CRISIL downgrades ratings assigned to DFM Foods' facilities worth Rs100 crore; stock slips ~2%

3 Aug 2022 , 03:12 PM

DFM Foods Limited informed that the rating agency CRISIL Limited has downgraded the ratings assigned to the company’s bank facilities.

CRISIL has downgraded the long-term rating to ‘CRISIL BBB+’ from the existing ‘CRISIL A-’. The outlook has been revised to Stable from Negative.

Further, the rating agency has also downgraded the rating assigned to the company’s short-term bank facilities. It has been assigned a new rating of ‘CRISIL A2’ from the previous ‘CRISIL A2+’ rating.

CRISIL reviewed total bank facilities worth Rs100 crore of the company.

At around 3.14 PM, DFM Foods was trading at Rs215 down by 1.53% from its previous closing of Rs218.35 on the BSE. The scrip touched intraday high and low of Rs218.60 and Rs212.10 respectively.