CARE upgrades credit rating of IOL Chemicals and Pharmaceuticals by one notch

The rating on long-term bank facilities was upgraded from CARE A with a Stable outlook to CARE A+; Stable rating.

Jul 06, 2021 12:07 IST India Infoline News Service

IT Stocks Up
CARE Ratings Limited has upgraded the Credit Rating of IOL Chemicals and Pharmaceuticals Limited by one notch for the banking facilities availed by the company.

The rating on long-term bank facilities (Fund Based Working Capital) Rs140cr was upgraded from CARE A with Stable outlook to CARE A+; Stable rating.

On short-term bank facilities (Non-fund- based working capital) Rs210cr the rating was upgraded to CARE Al+ from CARE Al.

At around 12.52 PM, IOL Chemicals & Pharmaceuticals Ltd was trading at Rs670.80 per piece up by Rs4.2 or 0.63% from its previous closing of Rs666.60 per piece on the BSE.

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