CRISIL downgrades Neogen Chemicals ratings to A-/Negative; subsidiary to BBB+

Rating DowngradedRating Watch NegativeCredit & Debt View source PDF

NEOGEN · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+0.4%1-day move

₹2158.60

prior close

—

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

————+0.4-2.5-3.3-4.8-4.5—————

Up moveDown movePending

AI summary

CRISIL downgraded Neogen Chemicals long-term rating from A/Negative to A-/Negative and short-term from A1 to A2+. Reason: delays in the battery chemicals project and delayed insurance claim receipt. Subsidiary Neogen Ionics was cut two notches from A-/Negative to BBB+/Negative. Bank facilities of Rs 680 crore (Neogen) and Rs 1,150 crore (Neogen Ionics) were reviewed. Outlook remains Negative across all ratings.

Likely market impact

Negative for shareholders. Rating downgrade with Negative outlook may raise borrowing costs and weigh on stock sentiment.