BVCL Clarifies CARE Ratings Misrepresentation, Validates CRISIL BBB- Rating
Barak Valley Cements Limited (BVCL) has issued a clarification regarding a credit rating of BB+ (Issuer Not Cooperating) assigned by CARE Ratings Limited. The company formally informed CARE of its dec...
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Why is Barak Valley Cements Limited in the news today?
Barak Valley Cements Limited (BVCL) is in the news due to the company is issuing a clarification because a credit rating agency published a rating that the company believes is inaccurate and misleading after the company had requested withdrawal from the rating engagement.
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BVCL Clarifies CARE Ratings Misrepresentation, Validates CRISIL BBB- Rating
January 2, 2026, 09:44 AM
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More Details on This News
Barak Valley Cements Limited (BVCL) has issued a clarification regarding a credit rating of BB+ (Issuer Not Cooperating) assigned by CARE Ratings Limited. The company formally informed CARE of its decision to withdraw from the rating engagement on July 29th, 2025, and requested immediate withdrawal. Despite subsequent communications and submission of requested documents, including No Objection Certificates from bankers and a no-default statement, CARE Ratings proceeded to publish the rating. BVCL asserts that this rating does not reflect the company's current financial position and has created a misleading public perception. Therefore, stakeholders are advised not to consider or rely upon the rating assigned by CARE Ratings Limited. The company emphasizes that the credit rating of CRISIL BBB- assigned by CRISIL Ratings Limited should be considered the final and valid credit rating for all purposes.
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