Kaynes Technology India Limited has informed the Exchange about Credit Rating- Others
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Infomerics Valuation and Rating Limited has upgraded Kaynes Technology's long-term bank loan rating to IVR A with a Stable outlook and short-term rating to IVR A1, and simultaneously withdrawn both ratings at the company's request. The withdrawal was initiated by Kaynes via a letter dated March 26, 2025, supported by No Objection Certificates from State Bank of India, HDFC Bank, and Canara Bank (all dated March 24, 2025). The ratings have also been moved out of the 'Issuer not Cooperating' category. Kaynes has stated it will not use these ratings for any future purpose.
The simultaneous upgrade signals improved creditworthiness of Kaynes Technology, but the withdrawal means the company no longer maintains a public rating from Infomerics, so investors will need to rely on ratings from other agencies for ongoing credit assessment. The move out of 'Issuer not Cooperating' is a positive credibility signal.