Ind Ra upgrades 20 Microns' credit rating at 'BBB+' with stable outlook

12 Jan 2022 , 11:21 AM

India Ratings and Research (Ind-Ra) has upgraded 20 Microns Limited’s Long-Term Issuer Rating to ‘IND BBB+’ from ‘IND BBB’. The Outlook is Stable while Short-term ratings has been upgraded to IND A2.

Ind-Ra continues to take a consolidated view of 20 Microns and its subsidiaries – 20 Microns Nano Minerals Limited (‘IND BBB+’/Stable; 97.21% stake held), 20 Microns SDN BHD (99.99%), 20 Microns FZE (100%) and 20 Microns Vietnam Limited (100%), collectively known as the Microns group, to arrive at the ratings on account of the common management and the strong operational linkages between the entities, as all of them operate in the same line of business.

The upgrade reflects Ind-Ra’s expectation of an improvement in the group’s financial performance and liquidity position in FY22 and thereon.

At around 11:21 AM, 20 Microns was trading at Rs85.40 apiece up by Rs3.55 or 4.34% on the BSE.