Meghmani Organics Limited has informed the Exchange about Credit Rating- Revision of subsidiary company
MOL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings & Research has revised the credit rating outlook for Meghmani Organics' subsidiary, Kilburn Chemicals Limited (KCL), from Negative Outlook to Positive Outlook. The rating watch on KCL's bank loan facilities of INR 2,742 million has been changed from Negative Implications to Positive Implications. The facilities include a Term Loan of INR 1,992 million and Fund Based Working Capital Limit of INR 750 million, both from HDFC Bank. The current ratings are IND BBB and IND A3+, both with Positive Implications watch. This revision indicates an improvement in the subsidiary's credit outlook.
The positive revision in rating outlook signals improved creditworthiness of the subsidiary, which is a positive development for Meghmani Organics shareholders. Better credit perception may lower borrowing costs and improve future financing options for the group.