Jocil Limited has informed the Exchange about Credit Rating- Revision
JOCIL · price
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Awaiting price reaction for this filing.
CARE Ratings has revised Jocil Limited's credit ratings for its bank facilities. The long-term bank facilities of Rs. 22 crore have been downgraded from CARE A- (Stable) to CARE BBB+ (Stable). The short-term bank facilities of Rs. 28 crore have been revised from CARE A2+ to CARE A2. The total facility size stands at Rs. 50 crore. CARE cited a decrease in Profit Before Tax due to lower volumes of Stearic Acid sales and a decline in Other Income as reasons for the revision.
This is a credit rating downgrade, which signals weakening financial performance. Shareholders should note that lower ratings may increase borrowing costs for the company and reflect concerns about profitability. The downgrade from A- to BBB+ is a notable step down in credit quality.