Carraro India Limited — Credit Ratings, 16-04-2025: Credit Rating- New

India Ratings and Research has upgraded Carraro India's credit ratings, reflecting improved financial health. The long-term credit facility rating has been upgraded to IND A+ with a stable outlook, down from a previous rating of IND A. The long-term facility amount has decreased to ₹1,292.10 million (129.21 cr) from ₹1,804.43 million. Additionally, a new proposed term facility of ₹447.90 million (44.79 cr) has been assigned an IND A+ rating.

For short-term facilities, the rating for fund-based working capital limits has also been upgraded to IND A+ with a stable outlook, while the non-fund based working capital limits remain affirmed at IND A1. This upgrade indicates strengthened revenue stability and decreasing debt levels, likely enhancing investor sentiment and potentially reducing borrowing costs for the company.

Overall, this credit rating revision suggests a favorable outlook for Carraro, positioning it for better financial flexibility and growth opportunities ahead.