ICRA upgrades long-term rating on Deepak Nitrite’s bank facilities to AA

The outlook on the long-term rating has been revised from Positive to Stable. ICRA has also re-affirmed the company’s short-term rating at ICRA A1+.

Mar 24, 2021 10:03 IST India Infoline News Service

ICRA Limited has upgraded its long-term rating from ICRA AA- to ICRA AA on bank facilities of Deepak Nitrite Limited (DNL). The outlook on the long-term rating has been revised from Positive to Stable. ICRA has also re-affirmed Short Term rating at ICRA A1+ on bank facilities of DNL.

ICRA has also re-affirmed the short term rating at ICRA A1+ assigned to the Commercial Paper programme of DNL. Further, ICRA Limited has upgraded long term rating from ICRA A to ICRA AA- on bank facilities of Deepak Phenolics Limited (DPL), a wholly owned subsidiary of DNL.

The outlook on the long-term rating has been Stable. ICRA has also upgraded short-term rating from ICRA A1 to ICRA A1+ on bank facilities of DPL.

At around 11.03 am, Deepak Nitrite Ltd was trading at Rs1565.50 per piece down Rs14.75 or 0.93% on the BSE.

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