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Ind-Ra upgrades rating of Jubilant Industries subsidiary; Revises outlook to Stable

The long-term issuer rating of Jubilant Agri and Consumer Products has been upgraded from CRISIL A-/Positive to IND A/Stable.

November 18, 2021 11:05 IST | India Infoline News Service
India Ratings & Research Private Limited, a Fitch Group Company, vide its letter dated November 16, 2021, has upgraded the credit ratings for the financial facilities of Jubilant Agri and Consumer Products Limited, a Wholly-owned material non-listed subsidiary of Jubilant Industries Limited. The outlook is stable.

The long-term issuer rating of the company has been upgraded from CRISIL A-/Positive to IND A/Stable. The rating on long-term loans (Rs1,028 mn) is upgraded from CRISIL A-/Positive to IND A/Stable.

The credit rating agency also upgraded rating on fund-based working capital limits from CRISIL A-/Positive to IND A/Stable/IND A1. For non-fund-based working capital limits rating was upgraded from IND BBB+/Stable/IND A2+ to IND A / Stable /IND A1.

At around 11.07 am, Jubilant Industries Ltd was trading at Rs521.25 per piece down by Rs7.85 or 1.48% from its previous closing of Rs529.10 per piece on the BSE.

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