FMCG major Dabur today said credit rating agency Crisil has assigned it the highest grade in the long-term due to the company's consistent growth and improved market position.
"Crisil has upgraded its rating on Dabur India Ltd's (Dabur's) long-term bank facilities and non-convertible debentures to AAA from ‘AA+," Dabur said in a statement.
AAA is the highest long-term rating, while AA+ is a notch lower than that.
"The upgrade reflects improvement in Dabur's market position, consistent and profitable growth, successful integration of its operations with that of the recently acquired Fem Care Pharma Ltd (FCPL) and improved financial risk profile," the statement added.
Dabur also said the upgrade reflects the rating agency's belief that the company will maintain its market position backed by its strong presence in the herbal goods segment.
"The ratings upgrade strengthens our confidence and reflects the strength of this home-grown enterprise," Dabur India Group Director P D Narang said.
