Manali Petrochemicals Limited — Credit Ratings, 27-12-2024: Credit Rating

Credit rating agency CARE Ratings has reaffirmed the company's long-term and short-term credit ratings. The long-term bank facilities of Rs. 50 crore have been assigned a CARE A+ rating with a stable outlook, while the previous long-term facilities of Rs. 25 crore have been reaffirmed at the same rating now reduced from Rs. 50 crore. Additionally, the company has received assigned ratings of CARE A+ (Stable) for long-term/short-term bank facilities and CARE A1+ for short-term bank facilities, which indicates a solid credit profile.

The withdrawal of the rating for the proposed bank guarantee and bill discounting facilities of Rs. 25 crore reflects the company’s current lack of utilization of these facilities. This action suggests that the company maintains a stable operational environment with no outstanding amounts under the proposed limits.

Overall, the reaffirmation of these ratings points to a stable financial position and consistent revenue generation capability, which supports the company’s borrowing costs and investor sentiment positively.