Goa Carbon Limited has faced a significant downgrade in its credit rating from Acuité Ratings & Research Limited. The agency has lowered the company's long-term rating from ACUITE A- to ACUITE BBB+ and the short-term rating from ACUITE A2+ to ACUITE A2. This revision affects the company’s total bank facilities amounting to ₹425 crores. Despite the downgrade, Acuité has maintained a Stable outlook, indicating that the company's financial situation is not expected to deteriorate further in the near term.

The downgrade reflects concerns surrounding Goa Carbon's financial performance and operational stability. The ratings agency has highlighted that the revisions may be influenced by various factors, including the company's ability to manage its debt obligations effectively. Goa Carbon, known for its manufacturing of calcined petroleum coke, has also been impacted by market fluctuations and operational challenges, which have led to a reassessment of its creditworthiness.

The rating actions apply to several bank facilities, including cash credit arrangements with IndusInd Bank and State Bank of India, and short-term letters of credit with multiple banks. As per the details released, the long-term facilities consist of ₹85 crores and the short-term facilities total ₹340 crores. Investors and stakeholders are advised to monitor any updates or changes in ratings and outlook, as the situation may evolve based on the company's future financial performance and market conditions.