Deepak Nitrite announced that ICRA has re-affirmed the long-term rating of Line of credit at [ICRA] A+ (pronounced ICRA A plus) and Short Term rating at [ICRA] A1+ (pronounced ICRA A one plus) assigned to the fund based limits and non-fund based limits of Deepak Nitrite (DNL).The outlook on the long-term rating has been revised from Stable to Positive.
ICRA has also re-affirmed the rating at [ICRA] A1+ (pronounced ICRA A one plus) assigned to the Commercial Paper programme of DNL.
Further, ICRA has upgraded long term rating from [ICRA] BBB (pronounced ICRA triple B) to [ICRA] A- (pronounced ICRA A minus) and the short-term rating from [ICRA] A3+ (pronounced ICRA A three plus) to [ICRA] A2+ (pronounced ICRA A two plus) to Deepak Phenolics , Wholly owned subsidiary of DNL.
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