Please find enclosed our clarification regarding the delay in disclosure of the Credit Rating under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ....
SUPERHOUSE · price
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Superhouse Ltd has responded to a BSE query asking why it delayed disclosing a credit rating announcement that was originally filed on 17 April 2024. The company explained that Acuité Ratings & Research had merely reaffirmed its existing rating of 'ACUITE A- / Stable' for long-term bank loans and 'ACUITE A2+' for short-term facilities, with no change in rating or outlook. The delay occurred because the reaffirmation letter reached the company after some time and was not initially treated as a material event. The total bank loan facilities rated amount to Rs. 219 crore, primarily with Punjab National Bank. The company has committed to timely disclosures going forward and re-submitted the reaffirmation letter to the exchange.
Neutral for shareholders since the rating was only reaffirmed with no upgrade, downgrade, or change in outlook. However, the delayed disclosure may raise minor governance concerns, though the company has assured better compliance.