Mirza International Limited has informed the Exchange about Credit Rating- Revision
MIRZAINT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CRISIL Ratings has downgraded Mirza International Limited's credit ratings for bank facilities worth Rs. 215 crore. The long-term rating was revised down from 'Crisil A-/Negative' to 'Crisil BBB+/Negative', while the short-term rating was downgraded from 'Crisil A2+' to 'Crisil A2'. The outlook remains Negative. The downgrade affects multiple banking arrangements including bill discounting, cash credit, letters of credit, and packing credit facilities with banks like State Bank of India, HDFC Bank, and Punjab National Bank.
The downgrade signals deteriorating creditworthiness and increased borrowing costs may follow. Negative outlook suggests further downgrades are possible if the company's financial health does not improve.