Acuite Ratings & Research Limited has upgraded the credit rating for the bank facilities availed by the Company.
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Acuite Ratings & Research has upgraded the credit ratings on Monika Alcobev's bank loan facilities totaling Rs. 42 crore. The long-term rating was revised upward from ACUITE BBB- to ACUITE BBB with a Stable outlook, covering Rs. 25 crore cash credit from ICICI Bank and Rs. 7 crore cash credit from Kotak Mahindra Bank. The short-term rating was also upgraded from ACUITE A3 to ACUITE A3+ for Rs. 10 crore packing credit from ICICI Bank. The rating action, communicated via a letter dated January 20, 2026, reflects improved assessment of the company's creditworthiness by the rating agency.
This upgrade signals improved financial health and may lead to lower borrowing costs for the company. Shareholders can view this as a positive indicator of the company's strengthening credit profile, though the company is still in the investment-grade mid-tier range.