Crisil Ratings downgraded VIP Industries Limited's bank facilities totaling 424 Cr.

The Long-Term rating moved to 'Crisil A+/Negative' from 'Crisil AA-/Negative', while Short-Term rating changed to 'Crisil A1' from 'Crisil A1+'. The Long-Term outlook remains Negative.

This revision is attributed to Crisil's review of the company's financial results.