Ugro Capital Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
Acuite Ratings & Research has withdrawn its long-term rating on Rs. 3.24 crore of Pass-Through Certificates (PTCs) issued under the 'NIMBUS 2022 ML MAVERICK' trust, because the instrument is fully paid up. The PTC was earlier rated ACUITE AA- (SO) and was reaffirmed as recently as May 2024, so the withdrawal is a routine step following full repayment, not a credit event. Ugro Capital's standalone originator rating remains unchanged at ACUITE A/Stable. The filing includes the full rating history for the company's various NCDs, term loans, and commercial paper programs.
This is a non-event for shareholders — the rating withdrawal simply reflects that the securitized instrument has been fully repaid, not any change in the company's credit profile. Investors should focus on the unchanged standalone rating of ACUITE A/Stable, which remains the relevant credit indicator for the company.