From CARE
Mercator announced that CARE has reaffirmed the rating of 'CARE BBB+' (CARE Triple B Plus) assigned to long term Bank Facilities and NCDs while rating for short term bank facilities remains unchanged i.e. CARE A3+ (CARE A Three Plus).The outlook has been revised from stable to negative on account of decline in scale of operations and profitability, resulting in lower than expected cash accruals. The outlook will be revised to 'stable' when the Company will normalize its coal operations* and improve the liquidity position.
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