CARE revises credit rating of Punjab Chemicals & Crop Protection bank facilities; stock soars 3%

The long term bank facilities of the company are revised to 'BBB' from 'BBB-', with a stable outlook, and short term bank facilities to 'A3+' from 'A3'.

Apr 07, 2021 12:04 IST India Infoline News Service

CARE Ratings has revised credit rating (Rs86.15cr) on the Punjab Chemicals & Crop Protection Limited’s long term bank facilities to 'BBB' from 'BBB-', with a stable outlook, and also revised rating on short term bank facilities to 'A3+' from 'A3'.

Ata round 12. 16 pm, Punjab Chemicals & Crop Protection Ltd was trading at Rs926.05 per piece up by Rs25.05 or 2.78% from its previous closing of Rs901 per piece on the BSE.

The scrip opened at Rs924 and has touched a high and low of Rs939 and Rs924 respectively during intraday trade on Wednesday.

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