Ovobel Foods Limited's credit rating for its bank loan facilities, totaling ₹29.90 Cr, has been revised downwards by CRISIL Ratings.

The ratings are now 'CRISIL BB/Stable / CRISIL A4+' and classified as "Issuer Not Cooperating." CRISIL cited a lack of sufficient information from the company for monitoring its credit profile.

Ovobel Foods states that CRISIL did not adequately consider its current financial performance and that this revision directly impacts its borrowing costs.

The company is initiating the withdrawal process for the rating and will update the market on further developments.

This indicates potential increased financing expenses and highlights a dispute with the rating agency.