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Mukka Proteins Ltd. receives rating reaffirmations and revisions from CARE Ratings and BWR Ratings

(07-Oct-26   17:43)

Mukka Proteins Ltd announced reaffirmations and revisions to ratings across multiple instruments by both CARE Ratings Limited and CARE Ratings Ltd., alongside an assignment by BWR Ratings. CARE Ratings Limited reaffirmed its CARE A+ rating for Loan Facilities and Term Loan, and CARE A2 for Working Capital, all with a Stable outlook, alongside reaffirming CARE BBB- (single B minus) / CARE A3 for Bank Facilities and Long Term Bank Facilities, revising the outlook from Negative. CARE Ratings Ltd reaffirmed its CARE BBB-; Stable / CARE A3 ratings for Long-term / Short-term and Long-term bank facilities, also revising the outlook from Negative, and noted a revision to a Stable outlook for consolidated financials reflecting improved operating performance, while also highlighting adequate debt coverage metrics of 2.48x and 5.87x respectively, alongside an assigned BWR A1+ rating for a Short Term Bank Loan of Rs 50 crore, indicating adequate creditworthiness, and acknowledged a Rs 47 crore equity share warrant issuance in September 2026.