Nitco Limited has informed the Exchange regarding 'Intimation Regarding Credit Rating assigned by Infomerics Valuation and Rating Limited'.
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Nitco Limited 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 The company strongly disagrees with this rating, stating that Infomerics relied on outdated data that did not account for a prior debt restructuring agreement with lender Authum Investment and Infrastructure Limited. Nitco claims it has fully repaid the sustainable debt owed to Authum and settled all outstanding dues of LIC. As of the announcement, the company's only remaining debt is Rs. 50 Crores in Non-Convertible Debentures (5% interest, maturing 2028), with Rs. 150 Crores in Non-Convertible Preference Shares held by Authum also due from 2028. Nitco also reported a healthy liquidity position of Rs. 79.61 Crores in cash and cash equivalents as of June 30, 2025.
The 'Issuer not Cooperating' tag is a negative signal that may concern investors, but Nitco has publicly disputed the rating and provided evidence of improved financial health, including debt repayment and strong cash reserves. The stock could see short-term volatility, but the company's clarifications may help restore confidence if the rating is revised.