Skipper Limited has informed the Exchange regarding 'change in credit rating of the Company'.
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Skipper Limited disclosed that Acuite Ratings & Research Limited has withdrawn all three credit ratings assigned to the company. The long-term rating of Acuite A for ₹847.20 crore and another long-term rating of ₹6.24 crore have been withdrawn. The short-term rating of Acuite A1 for ₹2,579.56 crore has also been withdrawn. Before withdrawal, all ratings were reaffirmed, suggesting no deterioration in credit quality. Ratings are typically withdrawn when facilities are repaid, refinanced, or closed. The withdrawal affects total rated debt of approximately ₹3,433 crore.
The withdrawal of ratings without any downgrade is generally neutral. It appears the company has likely repaid or closed its rated debt facilities rather than facing credit stress. Existing shareholders need not be concerned about negative credit developments.