Incredible Industries Ltd's Credit Facilities Downgraded by Infomerics Valuation and Rating Private Limited
Incredible Industries Ltd announced that Infomerics Valuation and Rating Private Limited (IVRPL), the company’s credit rating agency, has downgraded the credit ratings assigned to the company's banking facilities. The downgrade notice was issued via email on April 10, 2025, citing the non-submission of requisite information.The company's credit ratings across long-term and short-term bank facilities have been revised by IVRPL.
| Instrument Type | Previous Rating | Current Rating | Rating Action |
|---|---|---|---|
| Long Term Bank Facilities | IVR BBB/ Stable (IVR Triple B with Stable outlook) | TVR BBB-/ Negative ISSUER NOT COOPERATING* (IVR triple B minus with Negative outlook Issuer Not Cooperating) | Downgraded |
| Short Term Bank Facilities | IVR A3+ (IVR A3 Three Plus) | IVR A3 ISSUER NOT COOPERATING* (IVR A three Issuer Not Cooperating) | Downgraded |
Despite the downgrade from IVRPL, Incredible Industries Ltd confirmed that it continues to maintain a valid and live external credit rating from Acuité Ratings & Research Limited. The company stated it is continuing its credit facilities under the rating provided by Acuité.
Furthermore, the company noted that it has already initiated the process for the withdrawal of ratings from IVRPL and is currently awaiting the No Objection Certificate (NOC) from the concerned lenders.
INCREDIBLE Stock Price Movement
Shares of INCREDIBLE INDUSTRIES LIMITED today slipped by 0.88% to settle at ₹34.77. The equity finished its trading session with a total volume of 6,893 shares.Source:
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