Som Distilleries' Long-Term Rating Revised to BBB+ From A- by Infomerics
Infomerics Ratings revised Som Distilleries & Breweries Limited's long-term bank facilities rating to BBB+ from A- and short-term rating to A2 from A2+. This change reflects the temporary suspension of the company's manufacturing license. The subsidiary, Woodpecker Distilleries and Breweries Private Limited, also saw its ratings revised similarly.
A downgrade in credit rating can potentially impact borrowing costs and investor confidence, suggesting a medium-term impact.
The credit rating has been downgraded, which is a negative development for the company.
Som Distilleries & Breweries Limited (SDBL) has announced a revision in its credit ratings by Infomerics Ratings. The company's long-term bank facilities rating has been revised to BBB+ from the earlier A-, and the short-term rating has been revised to A2 from A2+.
This revision is primarily attributed to the temporary suspension of the company's manufacturing license by the Excise Department. Consequently, the long-term bank facilities rating for SDBL's subsidiary, Woodpecker Distilleries and Breweries Private Limited, has also been revised to BBB+ from A-, with the short-term rating revised to A2 from A2+.
The company has made this information available on its website, www.somindia.com.
What to do with a filing like this
Som Distilleries & Breweries Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Som Distilleries & Breweries Limited. Read the original for the full detail.