CRISIL Downgrades VIP Industries' Credit Rating on Rs. 464 Crore Bank Facilities
CRISIL Ratings has downgraded VIP Industries Limited's credit ratings on bank facilities worth Rs. 464 crore, reducing the long-term rating from A+/Negative to A/Negative and short-term rating from A1 to A2+. The downgrade, attributed to the company's financial performance, affects various banking facilities across multiple institutions including cash credit limits and working capital arrangements.