Go Fashion shares jump after rating upgrade

Shares of Go Fashion (India) Ltd rose over 2% in early deals on Monday on BSE Rating agency ICRA was followed by 1,016 each upgraded the company’s long-term and short-term ratings.

“Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration, has upgraded the Long Term Rating. [ICRA]from one [ICRA]Upgraded to A- and short-term rating [ICRA]from A1 [ICRA]Subtitles of A2+ are assigned to bank facilities 65 crores,” the company announced in an exchange filing.

The outlook on the long-term rating is stable. equipment with [ICRA]A rating indicating adequate safety with respect to financial obligations and timely servicing of equipment [ICRA]It added that an A1 rating indicates a very strong level of safety with respect to timely fulfillment of financial obligations.

go fashion GO COLORS is engaged in the development, design, sourcing, marketing and retailing of a range of women’s bottom-wear products under the brand name. The shares of the company had debuted in the stock market in November last year. The newly listed stock is down more than 5% so far in 2022 (year-to-date or YTD), while it’s down about 19% since listing.

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