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As on 27-Oct-2026  17:56

Vega Jewellers' debt ratings downgraded by CRISIL due to liquidity constraints and high utilization

Vega Jewellers Ltd announced ratings actions from multiple agencies concerning its debt instruments. CRISIL Limited reaffirmed the rating for the Bank loan facilities of Rs 138.00 Crore at CRISIL BBB-/ Stable, with an outlook remaining 'Stable', while also downgrading the same Bank loan facilities of Rs 138.00 Crore from CRISIL BBB-/ Stable, citing a constrained liquidity position and high average bank limit utilization of around 98-99%. Crisil assigned an initial rating of BBB/ Stable (Long-term) & A3+ (Short-term) to Bank loan facilities of Rs 88.00 Crore, and separately noted a downward revision of the rating for Overdraft limits, with a review pending based on utilization during a mid-term review.