Pursuant to SEBI LODR Regulation 2015, we hereby inform you that CRISIL Rating Limited has reviewed its credit rating. The letter by CRISIL is attached herewith.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CRISIL has reviewed its credit ratings on Prima Plastics' bank facilities totaling Rs. 60 crore. The long-term rating of CRISIL BBB+ and short-term rating of CRISIL A2 have both been continued on 'Rating Watch with Developing Implications' — no change from the prior status. Bank-wise facilities include Rs. 18.5 crore cash credit and Rs. 3.5 crore non-fund based limit from Kotak Mahindra, Rs. 18 crore term loan from Kotak Mahindra, and Rs. 20 crore working capital facility from Axis Bank. The watch status means CRISIL is still assessing the company and the rating could move either up or down once the review is complete.
Shareholders should note this is not an upgrade or downgrade — the rating is simply being kept under review with an uncertain outcome. The company retains investment-grade status (BBB+), but the developing watch signals some pending developments that could affect the rating either positively or negatively.