Pursuant to Regulation 30, read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation 2015 ("Listing Regulations"), ....
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Awaiting price reaction for this filing.
Crisil Ratings has reviewed the credit ratings of Shiva Cement's bank loan facilities totaling ₹1,066 crore. Ratings on three facilities aggregating ₹648.76 crore were marked as 'Revision' with the rating being Crisil AA- (CE)/Stable, where 'CE' denotes credit enhancement (likely backed by parent/guarantor support). Ratings on the remaining three facilities totaling ₹417.24 crore were 'Reaffirmed' at Crisil A+/Stable. The filing itself does not explicitly state whether the 'Revision' represents an upgrade or a downgrade; investors are directed to Crisil's published rating rationale for details.
The direction of the revised AA- (CE) rating is not specified in the filing, so shareholders should check Crisil's full rationale to understand whether the change is positive or negative. Reaffirmation of A+ ratings on ₹417.24 crore indicates steady standalone credit quality for those facilities.