IVR assigns BBB+/Stable ratings to Paul Merchants Finance subsidiary
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Infomerics Valuation and Rating Limited assigned IVR BBB+/Stable ratings to Paul Merchants Finance Private Limited, a wholly owned subsidiary of Paul Merchants Ltd. The ratings cover a INR 40 crore term loan and INR 160 crore in proposed long-term bank facilities. The filing states that downward revision of the ratings is not applicable.
The stable ratings may support lender confidence in the subsidiary's funding plans. The filing reports no rating downgrade or adverse rating action.