India Ratings upgrades Ruby Mills bank loan rating to IND BBB+ with Stable outlook
RUBYMILLS · price
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India Ratings upgraded Ruby Mills bank loan facilities of Rs 2,482 million from IND BBB on Rating Watch with Developing Implications to IND BBB+ with Stable outlook, removing the watch. Additional limits of Rs 1,357.7 million also rated IND BBB+ Stable. Total rated facilities stand at Rs 3,839.7 million. Upgrade driven by closure of MOA in Dec 2025, improving revenue visibility, and cash flow waterfall ensuring debt servicing. However, net leverage stretched at 4.91x in FY25, and an Enforcement Directorate attachment on bank balances remains a key monitorable.
Positive signal of improving credit profile and stable outlook, though stretched leverage and pending ED matter remain watchpoints for investors.