Intimation under Regulation 30 of SEBI (LODR),2015 - Withdrawal of Credit Rating Assigned to Paul Merchants Finance Private Limited (Wholly owned Subsidiary)
PML · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Paul Merchants Ltd has informed BSE that credit rating agency Acuite Ratings & Research has withdrawn the long-term rating of 'ACUITE A-' assigned to its wholly owned subsidiary Paul Merchants Finance Private Limited (PMFPL). The withdrawal covers Rs 900 crore of bank loan facilities. The reason is that PMFPL has fully repaid its bank loans and obtained a No Dues Certificate from its bankers, after which it requested the rating agency to withdraw the rating. This is a routine disclosure under SEBI LODR regulations and does not indicate any financial stress.
Positive signal — the subsidiary has fully repaid Rs 900 crore in bank loans, reducing its debt burden. Shareholders should view this as a sign of improved liquidity and debt-free status at the subsidiary level, which may strengthen the consolidated financial position.