CRISIL upgrades credit rating on Nahar Spinning Mills bank facilities

The company's rating outlook on the long-term bank facilities has been upgraded to CRISIL A/Stable from CRISIL A-/Stable and on the short-term bank facility to CRISIL Al from 'CRISILA2+.

Sep 27, 2021 11:09 IST India Infoline News Service

IT Stocks Up
CRISIL has upgraded credit rating on Nahar Spinning Mills Limited’s bank facilities. The company's rating outlook on the long-term bank facilities has been upgraded to CRISIL A/Stable from CRISIL A-/Stable and on the short-term bank facility to CRISIL Al from 'CRISILA2+.

The company also informed on Saturday that CRISIL Rating on the Rs23.5cr Commercial Paper has been upgraded to CRISIL Al from CRISIL A2+ vide its letter dated September 24, 2021, which indicates a very strong degree of safety regarding timely payment of financial obligations.
At around 11.48 AM, Nahar Spinning Mills Ltd was trading at Rs378 per piece down by Rs1.55 or 0.41% from its previous closing of Rs379.55 per piece on the BSE.

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