Intimation regarding Credit Rating assigned by Infomerics Valuation and Rating Limited.
NITCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nitco Ltd informed the exchanges that Infomerics Valuation and Rating has re-affirmed its credit rating under the 'Issuer not Cooperating' category. The company strongly disagrees with this rating, stating Infomerics relied on outdated data that did not account for the recent debt restructuring with Authum Investment and Infrastructure. Nitco clarified that it has fully repaid the sustainable debt owed to Authum and also settled outstanding dues with LIC. The only remaining debt is Rs. 50 crore of Non-Convertible Debentures carrying 5% interest, maturing in 2028, with timely interest payments continuing. The company also holds Rs. 79.61 crore in cash and cash equivalents as of June 30, 2025, and is in discussions with Infomerics to resolve the rating process.
The rating re-affirmation under 'Issuer not Cooperating' is technically a negative signal that may concern investors, but the company's strong rebuttal and improved debt position (low outstanding debt, healthy cash balance, settled prior dues) suggest the underlying fundamentals are better than the rating suggests. Shareholders should watch for a revised rating from Infomerics, which could be a positive trigger if upgraded.