Tembo Global Industries Changes Credit Rating Agency to Infomerics
Tembo Global Industries has changed its credit rating agency from CARE Ratings to Infomerics. Infomerics assigned ratings of IVR BBB+/Stable (Long Term) and IVR A2 (Short Term) for bank loan facilities of ₹390.00 Crore. The company clarified that CARE's 'Issuer Not Cooperating' status is procedural and not reflective of financial changes.
A change in credit rating agency and potential confusion due to the previous agency's status can impact investor perception and access to credit, even if the company states it is procedural.
The change in credit rating agency and the subsequent 'Issuer Not Cooperating' status from the previous agency are procedural. The new ratings assigned by Infomerics are stable, indicating no immediate negative impact on the company's financial health.
Tembo Global Industries Limited has announced a change in its credit rating agency from CARE Ratings Limited (CARE) to Infomerics Valuation and Rating Limited (Infomerics). This follows an earlier intimation on July 02, 2026. Infomerics has assigned ratings of IVR BBB+/Stable (Long Term) and IVR A2 (Short Term) to the company's bank loan facilities amounting to ₹390.00 Crore.
The company had previously informed CARE in July 2026 about the withdrawal of their rating assignment and requested them to remove it from all platforms. Tembo Global Industries has submitted a majority of the No Objection Certificates (NOCs) from its lenders to CARE and is in the process of obtaining the remaining NOCs.
Despite these efforts, CARE has assigned an "Issuer Not Cooperating" status to the company's rating. Tembo Global Industries clarifies that this status is procedural and does not reflect any change in the company's financial position or credit quality, as they had requested the withdrawal and did not submit fresh information to CARE. Infomerics is now the designated rating agency for the company. The information is also available on the company's website, www.tembo.in.
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Tembo Global Industries 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 Tembo Global Industries Limited. Read the original for the full detail.