Coastal Corporation Credit Rating
CARE Ratings Limited upgraded Coastal Corporation Limited's long-term and short-term bank facilities, totaling ₹341.78 crore, to CARE B+ / CARE A4 ratings.
- Value
- ₹341.8 Cr
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CARE Ratings Limited upgraded Coastal Corporation Limited's long-term and short-term bank facilities, totaling ₹341.78 crore, to CARE B+ / CARE A4 ratings.
CARE Ratings has downgraded the credit ratings for Coastal Corporation Limited's long-term and short-term bank facilities to CARE D, citing operational and financial performance concerns.
Coastal Corporation Limited announced that CARE Ratings has reviewed its credit ratings for bank facilities totaling ₹341.78 Crore. The agency assigned 'CARE BB; Stable' for new facilities and reaffirmed the same for existing limits. The rating reflects improved revenue and experienced management, tempered by working capital intensity and geographical concentration risks.