Disclosures in terms of Regulation 30 of SEBI (LODR), 2015 regarding ratings assigned by CRISIL
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Resonance Specialties has disclosed that CRISIL has upgraded its credit rating for bank loan facilities totaling Rs 14 crore. The long-term rating has been migrated from 'CRISIL BB+/Stable, Issuer Not Cooperating' to 'CRISIL BBB-/Stable'. The upgrade covers both the Rs 8 crore cash credit facility and the Rs 6 crore long-term bank facility. The removal of the 'Issuer Not Cooperating' tag is also a positive signal, indicating the company has resumed regular engagement with the rating agency.
This is a meaningful credit quality improvement — the rating has moved from non-investment grade (BB+) to investment grade (BBB-), which should lower borrowing costs, improve lender confidence, and is generally viewed positively by the market.