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Vishnu Prakash R Punglia Ltd. faces CARE rating downgrade to “Issuer Not Cooperating.”

12-Sep-26 19:58 Hrs IST

Vishnu Prakash R Punglia Ltd has announced that CARE has migrated the credit rating of the company’s bank facilities/instruments to the “Issuer Not Cooperating” (INC) category and assigned a CARE D rating, a development the company attributes to its previous rating arrangement with CARE and formal communication of non-acceptance of a prior review conducted on February 25, 2026; the company clarifies that this classification does not reflect its current financial standing, as it has since engaged another SEBI-registered Credit Rating Agency for an independent assessment, the results of which were disseminated on August 26, 2026, and that during the transition period, no fresh information was actively submitted to CARE, while reaffirming its commitment to debt servicing and regulatory disclosures.

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