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 Pvt. Ltd. has upgraded Parag Milk Foods' credit rating for Non-Convertible Debentures and Bank Facilities to 'IND BBB+' with a Stable Outlook, up from 'IND BBB'. 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 The company's Issuer Rating was upgraded to 'IND BBB+/Stable' before being withdrawn upon the company's request. The NCD size was reduced from INR 1,050 million to INR 810 million, while bank loan facilities stand at INR 6,000 million.
The upgrade reflects improved creditworthiness and financial health of the company, which is a positive signal for existing bondholders and lenders. The reduction in NCD size suggests the company has been repaying debt, strengthening its balance sheet.