ICRA revises Wheels India's credit ratings

The credit rating agency also revised the company’s outlook to stable from negative on the long-term Bank line.

Apr 05, 2021 04:04 IST India Infoline News Service

Wheels India
Wheels India Limited has received intimation from ICRA Limited in connection with the revision of credit ratings. The long-term rating for Bank lines was downgraded to ICRA A from ICRA A+ and the outlook revised to stable from negative.

The short-term rating for Bank lines was reaffirmed at ICRA A1. Medium Term rating (Fixed deposit Rs180cr) was reaffirmed at MA+ and outlook revised to stable from negative.

The rating on Medium Term rating (Fixed deposit Rs30cr) was assigned MA+ and outlook is stable. For Commercial Paper rating was reaffirmed at ICRA A1, company said in a regulatory filing on Thursday.

Wheels India Ltd trade on Monday ended at Rs455.10 per piece down by Rs4.2 or 0.91% from its previous closing of Rs459.30 per piece on the BSE.

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