Acuite Ratings Upgrades Permanent Magnets and Reaffirms Ashoka Buildcon Ratings

Acuite Ratings Research has upgraded Permanent Magnets Limited's long-term rating to 'ACUITE BBB Stable' and reaffirmed Ashoka Buildcon's rating at 'ACUITE AA Stable' with a short-term rating of 'ACUITE A1'. The upgrades reflect Permanent Magnets' stable business profile and financial strength, while Ashoka Buildcon's rating removal from watch follows asset monetization and improved capital structure. Both companies face industry-specific challenges, with Ashoka Buildcon's ongoing asset sales and order book performance noted as key factors.