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Go Fashion receives credit rating upgrade from ICRA; stock jumps ~2%

ICRA has reviewed the total bank facilities worth Rs65 crore of Go Fashion (India).

April 11, 2022 10:47 IST | India Infoline News Service
Go Fashion (India) Limited informed that based on a review of the latest developments, the Rating Committee of ICRA, after due consideration, has upgraded the long-term rating and short-term ratings assigned to the company’s bank facilities.

ICRA has revised the long-term rating from ‘ICRA A-‘ to ‘ICRA A’. Whereas Short-term ratings have been revised to ‘ICRA A1’ from the existing ‘ICRA A2+’. The Outlook on the long-term rating is Stable.

ICRA has reviewed the total bank facilities worth Rs65 crore of Go Fashion (India). Instruments with [ICRA]A rating indicate an adequate degree of safety regarding timely servicing of financial obligations and instruments with [ICRA]A1 rating indicate a very strong degree of safety regarding timely servicing of financial obligations.

Go Fashion’s stock gained 1.71% so far in today’s trade at Rs1,012.50 against its previous close of Rs995.45 on NSE. It touched intraday high and low of Rs1,037 and Rs1,006.35 respectively.

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