Sagar Cements Limited has informed the Exchange about Credit Rating- Revision
SAGCEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
India Ratings & Research has downgraded Sagar Cements Limited's long-term rating to 'IND BBB+' from 'IND A' and its short-term rating to 'IND A2' from 'IND A1'. The new ratings carry a Negative Outlook. The revision covers non-convertible debentures (NCDs) of about ₹115.4 million, term loans of around ₹2,059.6 million, fund-based working capital limits of ₹2,220 million, and non-fund-based working capital limits of ₹3,180 million across banks like SBI, HDFC Bank, Axis Bank, Federal Bank, and Tata Capital. The NCD (INE433R07016) carries a coupon of 11.6% and is set to mature on 28 May 2025. A Negative Outlook signals that further downgrade is possible if conditions don't improve.
Shareholders and debt holders should view this as a negative signal — a one-notch downgrade with a Negative Outlook suggests weakening creditworthiness and could raise future borrowing costs. Near-term, watch for the NCD maturity on 28 May 2025 and any refinancing or liquidity updates from the company.