Credit rating upgraded to ACUITE A- Stable by Acuite Ratings
MWL · price
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Awaiting price reaction for this filing.
Mangalam Worldwide informed exchanges that Acuite Ratings has assigned and upgraded ratings on bank facilities worth Rs 251 crore. Long-term bank loan rating upgraded to ACUITE A- with Stable outlook (Rs 192 crore upgraded, Rs 14 crore newly assigned). Short-term rating assigned and upgraded to ACUITE A2+ (Rs 44 crore upgraded, Rs 1 crore newly assigned). Upgrades reflect improved assessment of the company credit profile by the rating agency.
Positive for shareholders. Rating upgrade signals stronger financial health, potential lower borrowing costs, and improved lender confidence.