Parag Milk Foods Limited has informed the Exchange about credit ratings issued by India Ratings
PARAGMILK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings and Research has upgraded Parag Milk Foods' credit rating for Non-Convertible Debentures and Bank Facilities from 'IND BBB' to 'IND BBB+' with a Stable Outlook. The short-term Bank Loan rating was also upgraded to 'IND A2' from 'IND A3+'. The company's Issuer Rating was upgraded to 'IND BBB+/Stable' before being withdrawn at the company's request. The NCD size was reduced from INR 1,050 million to INR 810 million. Bank loan facilities stand at INR 6,000 million.
The rating upgrade signals improved creditworthiness and financial health, which could lower borrowing costs and boost investor confidence in the stock.