From India Ratings and Research
Jain Irrigation Systems announced that India Ratings and Research has upgraded the company's long term issuer rating to IND A- from IND BBB. The Outlook is Stable. The instrument wise ratings are as follows -
Fund based working capital limits - IND A-/ Stable / IND A1 (Upgraded)
Non fund based limits - IND A-/Stable/ IND A1 (Upgraded)
Term loan - INA A-/Stable (Upgraded)
Proposed term loan - Provisional IND A-/Stable (Upgraded)
Commercial paper - IND A1 (Upgraded)
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