Swaraj Suiting Limited — Important, 19-04-2025: Updates

Swaraj Suiting Limited has provided clarification concerning a rating rationale published by Acuité Ratings & Research. The company affirmed that Crisil Ratings reaffirmed its credit rating of "BBB" with a stable outlook for total bank loan facilities amounting to Rs. 340 crore. This rating was accepted by all major banks associated with the company. Notably, Swaraj Suiting indicated that their major banks had issued No Objection Certificates (NOCs) to Acuité Ratings for the withdrawal of the credit rating, aligning with the company’s decision to withdraw from Acuité. This communication highlights Swaraj Suiting's stable credit rating position, which may positively influence its borrowing potential and investor confidence moving forward.