Intimation under Regulation 30 of SEBI (LODR) Regulations 2015, - Withdrawal of Credit ratings assigned to Paul Merchants Finance Private Limited, Wholly Owned Subsidiary of the Company.
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Paul Merchants Ltd has informed BSE that the credit rating agency Infomerics Valuations and Ratings Limited has withdrawn the ratings assigned to its wholly owned subsidiary, Paul Merchants Finance Private Limited (PMFPL). The withdrawn ratings were 'IVR A-/RWPI' on long-term bank facilities and 'IVR A1/RWPI' on short-term bank facilities, both of which were earlier on 'Rating Watch with Positive Implications'. The withdrawal was made at PMFPL's own request, and the filing explicitly states that there are no reasons for downward revision in ratings. No specific loan amount is mentioned for these facilities.
This is a voluntary rating withdrawal at the subsidiary level and is not a downgrade, so it is largely neutral for shareholders. Investors may want clarity on why PMFPL chose to withdraw the ratings, but it does not signal any deterioration in the subsidiary's credit profile.