HomeBusinessMoody’s withdraws long-term corporate family rating for Kalyan Jewellers

Moody’s withdraws long-term corporate family rating for Kalyan Jewellers


Moody’s Traders Service has withdrawn Kalyan Jewellers India Ltd.’s (KJIL) B2 long-term company household ranking.

The credit standing company had earlier given ‘secure’ ranking outlook.

“In view of the present market circumstances, the corporate has pushed again its plans to entry the worldwide debt capital markets,” Moody’s stated in a press release. “Moody’s has determined to withdraw the ranking for its personal enterprise causes,” the ranking company added.

Kalyan Jewellers is the second-largest jewelry firm in India and has operations in West Asia. The agency posted consolidated income of ₹10,818 crore and internet revenue of ₹224 crore for March.

KJIL is listed on the BSE and NSE. The promoter household and related corporations personal 60.53% of KJIL. Highdell Investments Ltd., an affiliate of personal fairness agency Warburg Pincus & Co. US LLC, has a direct stake of 26.36%.



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