11 Nov 19 | 16:00
Vikas EcoTech Ltd
Exchange Received Time
Exchange Disseminated Time
Announcement under Regulation 30 (LODR)-Credit Rating |
10/17/2019 5:25:29 PM
In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to advise that the Company has been assigned 'BWR BBB' stable outlook rating for servicing of long term fund based credit facilities and 'BWR A3+' rating for servicing of short term non-fund based credit facilities from Brickwork Ratings India Private Limited implying moderate degree of safety regarding timely servicing of its financial obligations.
The Company had earlier been assigned with 'BWR BBB+' positive outlook rating for servicing of long term fund based and 'BWR A2' rating for servicing of short term fund and non-fund based credit facilities from Brickwork Ratings. The downgrade revision of the ratings is on account of full utilization of limits, elongated conversion cycle due to stretched receivables, inventory holding period and decline in profit margins in FY19 and Q1FY20.
Kindly take above on record.
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13 Nov 19|08:22 (IST)