JK Paper announced that India Ratings and Research has upgraded its rating to "IND AA" from "IND AA-" for various funding facilities of the Company and reaffirmed its 'IND A1+' rating for Commercial Papers of the Company.
The instrument wise rating actions are as follows:
Term loan (Rs 314 crore) - IND AA/ Stable (upgraded)
Fund based limits (Rs 250 crore) - IND AA/ Stable/ IND A1+ (long term rating upgraded; short term rating reaffirmed)
Non fund based limits (Rs 370 crore) - IND AA/ Stable/ INA A1+ (long term rating upgraded; short term rating reaffirmed)
Commercial paper (Rs 100 crore) - IND A1+ (affirmed)
Term deposit (Rs 30 crore) - IND AA/ Stable (upgraded)
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