Intimation of extension of Credit Rating of wholly owned subsidiary Popular Mega Motors (India) Private Limited.
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Popular Vehicles and Services Ltd has informed exchanges that CRISIL Ratings has extended the credit ratings for its wholly owned subsidiary, Popular Mega Motors (India) Private Limited. The long-term rating of CRISIL A/Stable and short-term rating of CRISIL A1 have been reaffirmed and will remain valid till 31st March, 2027. The total bank loan facilities rated stands at ₹235.55 crore across multiple banks including Kotak Mahindra, SBI, IndusInd, ICICI, HDFC, and others. The ratings reflect moderate safety for long-term instruments and strong safety for short-term instruments.
The reaffirmation of investment-grade ratings (CRISIL A/A1) indicates stable creditworthiness of the subsidiary. This is a neutral to slightly positive signal for shareholders as it shows the subsidiary's debt obligations remain manageable and lenders view the credit risk favourably.