Hot Pursuit
Maral Overseas Ltd. announced reaffirmations from CARE Ratings Limited regarding its bank facilities, including Long Term Bank Facilities amounting to 50 and Short Term Bank Facilities totaling 1750, reaffirmed at CARE BB+ and CARE A2, respectively, with the Long Term Bank Facilities also enhanced from 155.04 to 164.56. Additionally, CARE Ratings reaffirmed Short Term Bank Facilities at 217.53, including a Short Term Bank Facilities rating of CARE A4+. The company’s term loans, spread across Union Bank of India, State Bank of India, UCO Bank, Bank of Baroda, Central Bank of India, Canara Bank, Export Import Bank of India, and others, have various repayment schedules spanning from September 2024 to May 2029, with some loans under the ECLGS 2.0 scheme. While CARE Ratings provided the reaffirmations and enhancements, other rating agencies, including CareEdge Ratings, have provided ratings reflecting opinions as of a specific date, and CARE Ratings also noted that the issuer is not cooperating for certain bank facilities. A rating update notification was also issued per SEBI regulations.