Sula Vineyards Limited — Credit Ratings, 19-11-2025: Credit Rating

ICRA has reaffirmed Sula Vineyards' and its subsidiary's credit ratings for various long-term and short-term instruments, including term loans, at [ICRA]A+ / [ICRA]A1 and [ICRA]A+ (CE), respectively. The outlook for all these ratings has been revised to Negative from Stable. This indicates potential future concerns, though the core ratings themselves are unchanged.