Emkay Global Financial Services Limited — Credit Ratings, 04-08-2026: Credit Rating- Others

ICRA reaffirmed Emkay Global's existing NCDs at [ICRA]BBB+ with a Stable outlook, also assigning this rating to new NCDs. Bank lines were reaffirmed/assigned [ICRA]BBB+ (Stable) and [ICRA]A2+. The outlook for existing NCDs was revised from Positive to Stable, reflecting persistent weaker-than-expected performance amid industry and regulatory challenges.