Brickwork reaffirms credit ratings of Shiva Global Agro Industries; Stock sheds 2%

Brickwork expects the ability of the Company to sustain improvement in credit metrics and scale of operations would be positive for the ratings.

Oct 20, 2021 02:10 IST India Infoline News Service

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Brickwork Ratings reaffirms the ratings for the Bank Loan Facilities of Rs54.29cr of Shiva Global Agro Industries Ltd.

Brickwork Ratings reaffirms BWR BBB-/Stable/ BWR A3 rating to the Bank Loan facilities of the company.

As per rationale report, BWR has relied upon standalone audited financials of the Company upto FY21, unaudited results for Q1FY22 and projected financials upto FY23, publicly available information and clarifications/information provided by the management.

Brickwork expects the ability of the Company to sustain improvement in credit metrics and scale of operations would be positive for the ratings.

At around 2:33 PM, Shiva Global Agro Industries was trading at Rs62.65 per piece down by Rs1.4 or 2.19% on the BSE.

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