Kitex Garments has announced a revision and assignment of credit ratings for its bank loan facilities. India Ratings and Research Private Limited affirmed the rating of IND A/Negative/IND A1 for certain bank loan facilities, with a revised outlook to Negative. Additional bank loan facilities have been assigned a rating of IND A/Negative/IND A1. These ratings reflect the agency’s assessment of Kitex Garments’ creditworthiness.
Credit Rating Update
Kitex Garments has received updated credit ratings from India Ratings and Research Private Limited for its bank loan facilities. This announcement outlines the changes made to existing ratings and the assignment of ratings to new facilities.
Revised and Assigned Ratings
The credit rating for bank loan facilities amounting to ₹2,440.00 million has been affirmed at IND A/Negative/IND A1. However, the outlook has been revised to Negative.
Additionally, bank loan facilities amounting to ₹1,039.80 million have been newly assigned a rating of IND A/Negative/IND A1.
Source: BSE
