Mirza International Limited (MIRZAINT) — Announcement

📢 Key Event
CRISIL downgraded Mirza International's long-term and short-term credit ratings with negative outlook.

🔄 What Changed
Long-term rating downgraded from Crisil A-/Negative to Crisil BBB+/Negative; short-term rating downgraded from Crisil A2+ to Crisil A2; outlook remains negative

🔮 What's Next
Proposed long-term bank loan facility of ₹22 crore requires revalidation if not availed within 180 days from April 9, 2026

💡 Investor Takeaway
The rating downgrades signal weakening financial health and increased borrowing costs, posing risks to profitability and cash flow for equity investors.

⚠️ Risks
Negative outlook indicates continued pressure; downgrade reflects heightened credit risk and potential difficulty in debt servicing

CRISIL downgraded Mirza International's long-term rating from Crisil A-/Negative to Crisil BBB+/Negative and short-term rating from Crisil A2+ to Crisil A2 on ₹215 crore in rated bank facilities. The outlook remains negative, signaling deteriorating credit quality and increased financial stress for the footwear manufacturer.

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