Sanghi Industries Limited has informed the Exchange about Credit Rating- Revision
Awaiting price reaction for this filing.
Sanghi Industries Limited informed the exchanges that India Ratings and Research (Ind-Ra) has withdrawn the credit rating on its proposed bank loan facility of Rs. 25 crore. The facility was earlier rated IND AA / Rating Watch with Positive Implications / IND A1+. Ind-Ra stated the company is not proceeding with the instrument as originally envisaged, and as a result, the rating agency will no longer provide analytical or rating coverage for the company.
The withdrawal is administrative rather than negative — it reflects the company's decision not to proceed with a proposed Rs. 25 crore loan that was never availed. However, losing rating coverage from Ind-Ra means investors will have less third-party credit insight on the company going forward, which may marginally affect visibility for lenders and bondholders.