Nitco challenges credit rating after debt repayments

Nitco Limited disputes Infomerics Valuation and Rating's re-affirmed credit rating under the "Issuer not Cooperating" category, stating the assessment relies on outdated information.

The company says Infomerics overlooked full repayment of sustainable debt to Authum Investment and Infrastructure Limited and settlement of dues to Life Insurance Corporation of India.

Nitco's outstanding debt now consists solely of Rs. 50 crores in Non-Convertible Debentures maturing in 2028, and Authum's Rs. 150 crores in Non-Convertible Preference Shares due for redemption in 2028. The company reported Rs. 79.61 crores in cash and equivalents as of June 30, 2025.