ICRA revises Everest Organics credit rating; Stock soars 5%

3 Mar 2022 , 09:15 AM

ICRA Limited has revised Everest Organics Limited’s credit rating. The company changed the credit rating agency from Brickwork Ratings to ICRA which assigned ratings for the bank loan facilities of Rs47 crore of the company.

The rating on Term Loan which was reaffirmed at BWR BBB- / Stable by Brickwork was revised to ICRA BB+ (Stable) by ICRA. On Cash Credit BWR BBB-/Stable, ICRA revised it to ICRA BB+ (Stable).

For Non Fund Based Instrument Brickwork had reaffirmed rating at BWR A3 and ICRA revised it to ICRA A4+. ICRA also revised Fund Based BWR A3 to ICRA BB+ (Stable) / ICRA A4+.

During early trade on Thursday, Everest Organics Ltd was trading at Rs214.75 per piece up by Rs10.1 or 4.94% from its previous closing of Rs204.65 per piece on the BSE.