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As on : 03-Oct-2026
Hot Pursuit
03-Oct-2026     16:23

Patel Retail Ltd.’s bank ratings upgraded by Acuité, withdrawing Rs 116.73 crore facility ratings

Patel Retail Ltd. has announced rating actions from Acuité Ratings & Research Limited and Acuite, impacting a range of its bank facilities and instruments. Acuité upgraded the company's Bank Loan Ratings to ACUITE BBB+ (stable outlook) and ACUITE A2, while withdrawing ratings previously assigned to proposed bank facilities amounting to Rs 116.73 crore. Additionally, Acuite upgraded bank facilities totaling Rs.109.01 crore to ACUITE BBB+ and ACUITE A2, assigned an A3+ rating to Post Shipment Credit and PC/PCFC short-term facilities, and reaffirmed several other short-term and long-term ratings including those for Term Loans, Cash Credit, and Working Capital Demand Loans, all at BBB and A3+ respectively. The agency noted a healthy financial risk profile likely to remain so over the medium term, alongside an improving Debt/EBITDA ratio, and highlighted potential for an upward rating revision if revenues surpass Rs.1500 crore.

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