Nitin Spinners Limited has informed the Exchange about Credit Rating- Revision
NITINSPIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings has revised the outlook on Nitin Spinners' Long Term Bank Facilities to 'Positive' from 'Stable', while reaffirming the existing rating of CARE A (Single A). The Short Term Bank Facilities rating of CARE A1 (A One) has also been reaffirmed. The revision covers total bank facilities of Rs. 2,442.32 crore, including Rs. 2,375.62 crore in long-term facilities (term loans and fund-based working capital limits) and Rs. 66.70 crore in short-term non-fund based limits. The outlook upgrade is based on the company's operational and financial performance for FY25 (Audited).
This is a positive signal for shareholders, indicating that the rating agency views the company's financial health and business outlook as improving, which could translate into better borrowing terms and lower interest costs going forward.