Vishal Fabrics' bank loan facilities rating revised on performance

Brickwork has reaffirmed the company’s long-term credit rating and revised the outlook to Stable from Negative.

Aug 05, 2021 03:08 IST India Infoline News Service

Vishal Fabrics Limited (VFL) on Wednesday announced its ratings of bank loan facilities amounting to Rs371.81cr has been revised by Brickwork Ratings post the review of the company’s performance. The performance has been measured on the basis of information and clarification provided by the company and available in the public domain, the company said in a filing.

The long-term rating on Fund Based - Term Loan Rs185.81cr (previous Rs158.29cr) and Fund Based - Cash Credit (Rs160cr) has been reaffirmed at BWR A- and outlook revised to Stable from Negative. The short-term rating on Non-Fund Based Rs26cr has been reaffirmed at BWR A2+.

The company is a leading denim manufacturing and fabric processing unit incorporated in 1985. A part of the renowned Chiripal Group, Vishal Fabrics constantly strives to improve and innovate with its wider fabric manufacturing capacity and carbon reducing technology across its processing units.

Vishal Fabrics Limited stock on Thursday ended at Rs127.60 per piece down Rs1.05 or 0.82% on the BSE.

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