Mangalam Organics Limited has informed the Exchange about Credit Rating
MANORG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CRISIL Ratings has reviewed the credit ratings of Mangalam Organics Limited's bank facilities totalling Rs. 397 Crore. The Long-Term Bank Facilities of Rs. 192 Crore carry a rating of CRISIL BBB+, while the Short-Term Bank Facilities of Rs. 205 Crore carry a rating of CRISIL A2. Both ratings have been placed on 'Rating Watch with Developing Implications', meaning CRISIL is monitoring the company for potential changes in either direction. The bank-wise breakdown shows facilities spread across HDFC Bank, Axis Bank, and Saraswat Co-Operative Bank, covering cash credit, letters of credit, and term loans.
The actual rating levels (BBB+ and A2) remain unchanged and are still in the investment-grade category, so this is not a downgrade. However, the 'Developing Implications' watch signals that CRISIL sees some uncertainty ahead and the rating could be revised upwards or downwards in the coming months. Shareholders should track upcoming updates from the company to understand what triggered the watch.