Credit rating assigned and reaffirmed to Paul Merchants Finance Private Limited, wholly owned subsidiary of the Company
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Acuite Ratings & Research has assigned a long-term rating of ACUITE A- (Stable) to Rs. 200 crore of new bank loan facilities of Paul Merchants Finance Private Limited (PMFPL), the wholly owned subsidiary of the company. Acuite also reaffirmed its existing ACUITE A- (Stable) rating on Rs. 700 crore of bank loan facilities of PMFPL. The total rated bank loan facilities of the subsidiary now stand at Rs. 900 crore. The company noted that the ratings themselves remain unchanged, and only the facility amounts have been revised. No downward revision reasons were applicable.
The subsidiary retains its investment-grade rating (A-) with a stable outlook across Rs. 900 crore of bank loans, signalling continued lender confidence and stable borrowing capacity for the group's finance arm, which is supportive for shareholders.