Update on Credit Rating under Regulation 30 of SEBI(LODR), Regulations, 2015
Awaiting price reaction for this filing.
Sanghi Industries has informed exchanges that India Ratings and Research (Ind-Ra) has withdrawn the credit rating assigned to its proposed Rs 25 crore bank loan facility. The earlier rating was IND AA with Positive Implications / IND A1+, and it has now been marked 'WD' (withdrawn). Ind-Ra cited that the company is no longer proceeding with the instrument as originally planned, and as a result, the agency will not maintain analytical or rating coverage for Sanghi Industries going forward. The company has not taken any new debt under this facility; instead, it has chosen not to pursue the planned loan.
This is not a credit deterioration signal — the prior rating was strong (IND AA). However, the loss of external rating coverage reduces visibility on the company's credit profile for investors, and the decision to drop a planned Rs 25 crore borrowing may hint at a shift in capital spending or funding plans.