CARE withdraws ratings on bank facilities of Pitti Engineering; Stock soars over 3%

14 Jan 2022 , 09:50 AM

Pitti Engineering Ltd has informed that on the request of the Company, CARE Ratings Limited has withdrawn its CARE BBB+; Stable/CARE A2 rating assigned to the bank facilities of the Company. The Company had voluntarily requested for such withdrawal. The communication on the said withdrawal was received by the Company on January 12, 2022.

Further as per regulatory filing, currently the Company has been assigned IND A-/stable/ IND A2+ rating by India Ratings & Research Private Limited for the bank facilities and the same has been already intimated to the exchanges on November 30, 2021.

On Friday at around 9:51 AM, Pitti Engineering was trading at Rs261.60 per piece higher by 3.36% on Sensex.