Sical Logistics gets downgrade in credit ratings from ICRA

Sical Logistics announced that ICRA has downgraded the ratings to [ICRA] D / D From [ICRA] BB+ [Negative] / A4 for Long Term Loans and Short term fund and non-fund based facilities respectively. Similarly, Brickwork Ratings have downgraded the ratings to BWR D / D from BWR BB-/A4 respectively for the fund based and non-fund based facilities availed by the Company. As per the credit rating agencies, the revision is due to delays in debt servicing on the term loans due in August, 2019 awaiting the consent of lenders by the company for deferment of payment as was sought.

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