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Acuite Ratings affirmed and withdrew ratings for Swaraj Suiting Ltd’s bank loans and preference shares

02-Sep-26 19:48 Hrs IST

Swaraj Suiting Ltd has announced rating actions from Acuite Ratings & Research Limited and Acuité, impacting various instruments. Acuite assigned an initial rating of ACUITE A-(Minus) with a stable outlook and ACUITE A- with a stable outlook to Bank Loans totaling 123.09, while also assigning a stable outlook to its Preference Shares amounting to Rs. 263 crore, reflecting funds raised through warrants and preference shares; additionally, Acuite provided an Unsupported Rating for the standalone business and financial risk profile, noting a healthy financial risk profile based on net worth and debt coverage indicators, with tangible net worth improving from Rs. 151.74 crores in March 2025 to Rs. 335.87 crores in March 2026. Several instruments, including Term Loans of 40.00, Cash Credit of 10.00, and multiple other Term Loans and Cash Credit facilities ranging from 1.56 to 41.61, were reaffirmed and withdrawn by Acuité due to the issuer not co-operating, alongside downgrades from ACUITE BBB- for some of these instruments, while other instruments received new assignments and reaffirmed ratings, including Cash Credit of 45.00 and Term Loans of 0.12, 7.02, 28.97, 32.82, 0.17, 8.99, and 19.00, all carrying a stable outlook of A-.

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