ICRA Limited has revised the credit rating for Rs603cr Bank Line (s) availed by
Parag Milk Foods Limited. Following the announcement of the material event of fund raising plans by the company, ICRA has placed the ratings on watch and removed the negative outlook on long- term rating.
The negative outlook on the long-term rating ICRA A has been removed and upgraded to “watch with developing implications”. The short-term rating of ICRA A2+ has been placed ‘On watch”.
At around 2.09 pm, Parag Milk Foods Ltd was trading at Rs107.55 per piece down Rs9.30 or 7.96% from its previous closing of Rs116.85 per piece on the BSE.
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