Knowledge Marine & Engineering Works Limited has informed the Exchange about Credit Rating
KMEW · price
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Awaiting price reaction for this filing.
CARE Ratings has upgraded Knowledge Marine & Engineering Works Limited's credit rating by one notch to 'BBB+; Stable' for Long Term Bank Facilities and assigned 'A2' for Short Term Bank Facilities, both upgrades from previous levels. The total bank facilities rated stand at Rs. 300 crore, comprising Rs. 205.75 crore in long-term, Rs. 83.25 crore in short-term, and Rs. 11 crore in long-term/short-term facilities. Lenders include Bandhan Bank, Kotak Mahindra Bank, Bank of India, CSB Bank, and Bank of Maharashtra. The rated amount for long-term facilities was significantly enhanced from Rs. 45 crore to Rs. 205.75 crore, indicating substantial growth in the company's banking relationships and borrowing capacity.
Positive for shareholders — the rating upgrade signals improved creditworthiness and financial health, while the sharp increase in rated facility size (from Rs. 45 cr to Rs. 205.75 cr long-term) suggests expanded business opportunities and stronger lender confidence, potentially supporting future growth and stock sentiment.