Eureka Forbes Limited Receives Credit Rating Outlook Upgrade from CRISIL

Eureka Forbes Limited has received a significant credit rating development, with CRISIL Ratings Limited revising the company's outlook to Positive from Stable. The rating agency has simultaneously re-affirmed the Crisil AA- ratings on the company's Corporate Credit Rating.

Credit Rating Details

The credit rating revision represents an important milestone for Eureka Forbes Limited, reflecting improved financial prospects and creditworthiness. The following table summarizes the key rating parameters:

Rating Component	Current Status
Credit Rating	Crisil AA- (Re-affirmed)
Outlook	Positive (Revised from Stable)
Rating Agency	CRISIL Ratings Limited

Regulatory Compliance

The company has duly informed both major stock exchanges about this development in compliance with regulatory requirements. The announcement was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market Communication

Eureka Forbes Limited communicated this development to BSE Limited and National Stock Exchange of India Limited through official letters. The company trades on both BSE and NSE.

This credit rating outlook upgrade indicates CRISIL's confidence in the company's improving financial trajectory and business fundamentals, providing positive signals to stakeholders and the investment community.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.86%	-2.35%	+7.02%	+6.54%	+9.30%	+24.35%

Eureka Forbes Limited , a prominent player in the consumer durables sector, has received a significant boost to its creditworthiness as reflected in the recent rating upgrade by CARE Ratings Limited. The company's Long-Term Bank Facilities and Issuer Rating have been elevated from 'CARE AA-: Stable' to 'CARE AA: Stable', marking an improvement in its financial standing.

Rating Upgrade Details

The credit rating upgrade encompasses two key areas:

Facility/Instrument	Previous Rating	New Rating	Amount (INR Crore)
Long-Term Bank Facilities	CARE AA-; Stable	CARE AA; Stable	338.75
Issuer Rating	CARE AA-; Stable	CARE AA; Stable	-

Enhanced Financial Capacity

In a notable development, Eureka Forbes has also seen an increase in its Long-Term Bank Facilities. The facilities have been enhanced from INR 288.75 crore to INR 338.75 crore, representing an addition of INR 50.00 crore to its credit line. This expansion in financial resources could potentially provide the company with greater operational flexibility and support for its business activities.

Implications of the Upgrade

The upgrade to 'CARE AA; Stable' indicates a high degree of safety regarding timely servicing of financial obligations. This rating suggests that Eureka Forbes carries very low credit risk, which could translate into several benefits:

Improved Borrowing Terms: The company may be able to secure more favorable interest rates on future borrowings.
Enhanced Market Perception: A higher credit rating often leads to increased confidence among investors and stakeholders.
Financial Stability: The rating reflects CARE's assessment of Eureka Forbes' strong capacity to meet its financial commitments.

Regulatory Compliance

In adherence to regulatory requirements, Eureka Forbes has duly informed the stock exchanges about this rating upgrade. The intimation was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This credit rating upgrade serves as a positive indicator of Eureka Forbes' financial health and may contribute to its strategic positioning in the market. Investors and market observers will likely keep a close watch on how the company leverages this improved financial standing in its future business endeavors.