ICRA assigns A+ ratings to Bajaj Electricals' bank facilities worth Rs4,092.50cr

15 Mar 2022 , 01:28 PM

ICRA Limited has upgraded the long-term rating for the Bajaj Electrical‘s Rs4,092.50 crore bank facilities to (ICRA) A+ (pronounced ICRA A plus) from (ICRA) A (pronounced ICRA A) and has given a stable outlook. The rating agency has also reaffirmed the short-term rating for the said Facilities at (ICRA) A1 (pronounced ICRA A one).

Instruments with [ICRA]A+ rating are considered to have an adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk. Instruments with [ICRA]A1 rating are considered to have a very strong degree of safety regarding timely payment of financial obligations.

Bajaj Electricals was trading at Rs997.30 against its previous closing price of Rs1,002.15, down by 0.48%. It touched the intraday high and low of Rs1,013.15 and Rs996 respectively.