CRISIL reaffirms ratings on Indian Toners & Developers' bank facilities; Stock gains 1%

The short term rating has been reaffirmed at 'CRISIL A2+'.

Jun 14, 2021 03:06 IST India Infoline News Service

CRISIL Ratings has revised its rating outlook on the long term bank facilities of Indian Toners and Developers Limited to 'Stable' from 'Negative’ and reaffirmed the rating at 'CRISIL BBB+’. The short term rating has been reaffirmed at 'CRISIL A2+'.

The outlook revision reflects the improvement in operating performance of ITDL since the second quarter of fiscal 2021, with easing of lockdown restrictions and the provisional anti-dumping duty levied on August 10, 2020.

The ratings continue to reflect the established market position and strong business risk profile of ITDL. 

Indian Toners & Developers was trading at Rs189.30 apiece up by Rs2.6 or 1.39%, at around 3:27 PM.

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