Agriculture group Aragvi Holding International (trading as Trans-Oil Group) announced a one-month delay in the filing of its annual report, which it expects to complete by Nov. 27. It also announced significantly weaker earnings and interest coverage metrics in its preliminary fiscal (year-end June 30) 2026 results. We also not ongoing trading-related risks in key logistics routes that could delay recovery in earnings and cash flow we currently forecast for fiscal 2027. The group is negotiating with its lenders the extension of its crucial $247 million working capital facility to June 2027 necessary for the day-to-day funding of the business. We lowered our long-term issuer and issue-level credit ratings on Aragvi and its outstanding 2029 and 2031 notes to'B-'
