CARE Ratings revises credit rating of Punjab Alkalies' bank facilities; stock slips ~1%

17 Jun 2022 , 02:29 PM

Punjab Alkalies & Chemicals Limited revise the credit rating assigned to the company’s long-term and short-term credit facilities of the company.
The rating agency has revised the rating of long-term bank facilities worth Rs97.51 crore to CARE BBB-(CWD), revised from CARE BB+. It continues to be on credit watch with developing implications.

It has revised the rating of Long Term/ Short Term bank Facilities worth Rs20 crore to existing CARE BBB-/CARE A3 from CARE Term bank Facilities (CWD) BB+/CARE A4+, with continuing credit watch developing implications.

Total Bank facilities reviewed by the rating agency stood at Rs117.51 crore.

Punjab Alkalies’ counter slipped 1.56% so far in today’s trade at Rs72.70 against its previous close of Rs73.85 on BSE. It touched intraday high and low of Rs74.80 and Rs70.25 respectively.