Vadilal Industries gets downgrade in credit ratings from India Ratings

Vadilal Industries announced that India Ratings and Research (Ind-RA) has downgraded Vadilal Industries Long term issuer rating to 'IND BBB+' from 'IND A-' and maintained it on Rating Watch Negative (RWN) vide their letter dated 29 July, 2019.

The instrument-wise rating actions are as follows:

Term loan - IND BBB+/RWN (Downgraded and maintained on RWN)
Fund based bank facilities - IND BBB+/RWN (Downgraded and maintained on RWN)
Non fund based bank facilities - IND A2+/RWN (Downgraded and maintained on RWN)

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