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Infomerics withdraws rating on bank facilities of Maheshwari Logistics on company's request; Stock gains

The credit rating agency has revised and withdrawn the outstanding ratings of ‘IVR BBB+; Stable Outlook’ & IVR A2.

September 02, 2021 3:21 IST | India Infoline News Service
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Infomerics Ratings has withdrawn the rating on a total of Rs116.20cr long-term and short-term bank facilities of Maheshwari Logistics Limited on the company's request.  The rating of IVR BBB+; Stable on long-term bank facilities Rs55cr has been revised and withdrawn. On short-term bank facilities, Rs61.20cr IVR A2 rating has been revised and withdrawn

“Infomerics has revised and withdrawn the outstanding ratings of ‘IVR BBB+; Stable Outlook’ & IVR A2 assigned to the bank facilities of Maheshwari Logistics Limited with immediate effect.

The above action has been taken at the request of Maheshwari Logistics Limited and ‘No Objection Certificate’ received from the banks that have extended the facilities rated by Infomerics,” company shared Informerics statement on Wednesday.

Towards close of trade on Thursday, Maheshwari Logistics Limited was trading at Rs107.20 per piece up Rs1.25 or 1.18% on the BSE.

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