Greaves Cotton Limited — Credit Ratings, 07-06-2025: Credit Rating- Revision

India Ratings has downgraded Greaves Cotton’s long-term issuer rating and fund-based working capital limits to IND AA- with a stable outlook, while affirming the short-term non-fund-based limits at IND A1+. The downgrade reflects weakening in the company’s consolidated financial profile, marked by liquidity pressures and higher debt levels. This action is likely to increase borrowing costs and may dampen investor confidence, potentially restricting financial flexibility. The stable outlook indicates that further rating changes are unlikely if the company maintains its current operational performance.