Ind-Ra upgrades DCW and its NCDs to ‘IND BBB+’ with stable outlook

The upgrade reflects a better-than-expected operational performance in FY21, thus improving the credit metrics year-on-year.

Jun 18, 2021 05:06 IST India Infoline News Service

Financial Graph
India Ratings and Research (Ind-Ra) has upgraded DCW Limited Long-Term Issuer Rating to ‘IND BBB+’ from ‘IND BBB’. The Outlook is Stable.

The upgrade reflects a better-than-expected operational performance in FY21, thus improving the credit metrics year-on-year.

An improvement in DCW’s liquidity position through the successful issuance of NCDs and OCDs, significantly easing the cash flow mismatches expected by the agency over FY22-FY23.

The scrip opened at Rs36.80 apiece and touched a high and low of Rs37.10 apiece and Rs34.25 apiece respectively.

On Friday, DCW ended at Rs35.90 apiece down by Rs0.9 or 2.45% on Sensex.

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