CRISIL revises NACL Industries ratings after Coromandel acquisition

CRISIL has revised credit ratings for NACL Industries Limited and subsidiary NACL Spec-Chem Limited to 'Watch Positive' following improved liquidity after acquisition by Coromandel International Limited.

The ratings initially dropped to 'CRISIL D' due to a five-day delay in principal repayment in March, but were subsequently upgraded after over 90 days of timely debt servicing.

NACL Industries' ₹915 crore bank facilities were revised to 'CRISIL BB+/Watch Positive', while NACL Spec-Chem's ₹175 crore facilities moved to 'CRISIL BB/Watch Positive'. Coromandel now holds a 53.08% stake in NACL following the August acquisition.