Midwest Limited has informed the Exchange about revision in credit rating of the Andhra Pradesh Granite (Midwest) Private Limited, Subsidiary Company under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Midwest Limited has informed the stock exchange that the credit rating of its subsidiary, Andhra Pradesh Granite (Midwest) Private Limited, has been revised. The disclosure has been made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements. The full details of the revised rating, the rating agency involved, and the direction of the revision (upgrade or downgrade) are not specified in the headline.
The direct impact on Midwest Limited shareholders is unclear without knowing the rating agency's view or whether the rating was upgraded or downgraded. Any rating revision of a subsidiary may affect the parent company's consolidated debt profile and borrowing costs, depending on the direction.