Ind Ra upgrades Yasho Industries' long-term issuer rating to 'BBB+/Stable'

28 Jul 2022 , 11:10 AM

India Ratings and Research (Ind-Ra) has upgraded Yasho Industries Limited’s (YIL) Long-Term Issuer Rating to ‘IND BBB+’ from ‘IND BBB’. The Outlook is Stable.

According to the rating rationale, the upgrade reflects a significant increase in YIL’s scale of operations, resulting in an improvement in the EBITDA margins and credit metrics during FY22.

Ind-Ra has taken a consolidated view of YIL and its wholly-owned subsidiary Yasho Industries Europe B.V. (YIEBV) to arrive at the ratings on account of the strong legal, operational and strategic linkages between them, the rating agency said.

At around 11:09 AM, Yasho Industries was trading at Rs1506.10 per share higher by 0.24% on the BSE.