Credit Rating Withdrawn by Brickwork Ratings at Company's Request
The company has informed the exchanges that Brickwork Ratings has withdrawn the credit rating assigned to its facilities.
By ScoutQuest · · 1 min read
- Rating Action
- Brickwork Ratings has withdrawn the credit rating assigned to the company's facilities
- Withdrawal Reason
- At the company's own request, in line with Brickwork's policy on withdrawal of ratings
What was shared
The company informed BSE and NSE that Brickwork Ratings has withdrawn the credit rating assigned to its facilities. The withdrawal was carried out at the request of the company, in accordance with Brickwork's policy on withdrawal of ratings.
What a rating withdrawal means
A credit rating is an independent opinion on how likely a borrower is to repay its debt on time. When a rating is withdrawn, that opinion is no longer active or tracked by the agency.
A withdrawal at the borrower's request is a procedural step and is distinct from a downgrade. The update states the withdrawal followed the agency's stated withdrawal policy.
What investors may watch
- Whether the facilities concerned continue to be rated by another agency.
- Any subsequent disclosures on the company's borrowings or rating arrangements.
The company is the entity formerly known as Aarvee Denims and Exports Ltd.
Also from Varvee Global
Varvee Global Ltd press release, Q2 FY27
23 Oct 2026
Q2/H1 FY27 results approved; auditor review unmodified, with emphasis on MAT credit and rent income
22 Oct 2026
Board meet on 22 October 2026 to consider Un-Audited results for quarter, half year ended 30 September 2026
16 Oct 2026
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