From ICRA
Bajaj Electricals announced that:1. ICRA ('Rating Agency') vide its letter dated 21 October 2015 has communicated reaffirmation of [ICRA] A1 (pronounced ICRA A one) assigned to Company's Commercial Paper (CP) programme of Rs.200 crore. CP with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations.
2. ICRA ('Rating Agency') vide its letter dated 26 October 2015 has communicated reaffirmation of the long term rating of [ICRA] A (pronounced ICRA A) and short term rating of [ICRA] A1 (pronounced ICRA A one) assigned earlier to the Company's Line of Credit (LOC) of Rs. 2,334.41 crore and has also assigned long-term rating of [ICRA]A and short-term rating of [ICRA]A1 to the additional limit of Rs. 498.80 crore. The outlook on the long-term rating has been revised from 'Stable' to 'Positive'.
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