Borosil announced that ICRA has upgraded/assigned the long-term rating of [ICRA] A+ (pronounced ICRA A plus) (Stable) and the short-term rating of [ICRA] A1 + (pronounced ICRA A one plus) for the Rs. 91 crore Line of Credit of the Company.
Further, the rating agency has:
a) upgraded the rating of long-term fund based limit of Rs . 25 crore to [ICRA]A+ (pronounced ICRA A plus)
(Stable) from [ICRA]BB & (pronounced ICRA double B with rating watch on developing implications);
b) assigned rating of [ICRA]A+ (Stable) (pronounced as ICRA A plus) to the additional Rs. 60.00 crore fund
based limit; and
c) upgraded the rating of short-term non-fund based limit of Rs. 6 crores to [ICRA]A 1 + (pronounced ICRA A one
plus) from [ICRA]A4+ & (pronounced ICRA A four plus with rating watch on developing implications).
The rating watch removed and stable outlook assigned to the aforesaid rating.
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