ICRA revises Cantabil Retail's long-term rating to ‘ICRA A-/Stable'

15 Jun 2022 , 02:58 PM

Cantabil Retail India Limited has informed that in terms of Regulation 30(2) of SEBI (Listing obligations and Disclosure Requirements) Regulations 2015, ICRA Limited has reviewed its bank Loan facilities as a part of annual surveillance.

ICRA has revised the long-term rating of the company to ‘ICRA A-’ and has given a Stable outlook for the same.

The rating agency has revised the short-term rating to ‘ICRA A2+’.

Total bank facilities reviewed by ICRA amount to Rs60 crore.

Vijay Bansal, (Chairman & Managing Director) of Cantabil Retail India Limited commented on the result, “It gives me immense pleasure to share that our Company’s ratings have been revised upward and that we have paid all the dues and interest on time.

We have also repaid the entire long-term loan as of March 31, 2022, and are a debt-free Company now. We are continuously moving towards our ever-evolving goals to make this Company better each day. All this has been possible with the support from our stakeholders and our team.”

At around 3.01 PM, Cantabil Retail India was trading at Rs1,125 per piece, down by Rs4.5 or 0.4% from its previous closing of Rs1,129.50 on the BSE. The scrip opened at Rs1,147.40 and has touched a high and low of Rs1,149 and Rs1,085.30 respectively.