ICRA revises long-term ratings assigned to ACE Limited's debt instruments; stock slips ~1%

ACE Limited has informed investors and exchanges that ICRA Limited has revised the long-term and short-term ratings of the company’s bank facilities.

ICRA has revised the long-term rating from the existing ‘ICRA AA-‘ to ‘ICRA AA’. It has upgraded the outlook from positive to stable.

The rating agency has reaffirmed the ratings assigned to the company’s short-term bank facilities and commercial paper to ‘ICRA A1+’.

ACE’s stock was trading at Rs234.15, down by 0.70% against the previous close of Rs235.80 on NSE. It touched intraday high and low of Rs239.10 and Rs232.05 respectively so far in the day.