KEI Industries gets revision in credit ratings

From CARE

KEI Industries announced that Credit Analysis & Research (CARE) has upgraded / revised the rating assigned to the Long Term Bank Facilities availed by the Company from 'CARE BBB+' (Triple B Plus) to 'CARE A-(Single A Minus). This rating is applicable to facilities having tenure of more than one year. Facilities with these ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments / facilities carry low credit risk.

Further, CARE has also upgraded / revised the rating assigned to the Medium Term Instrument i.e. Fixed Deposits scheme of the Company from 'CARE BBB+ (FD)' [Triple B Plus (Fixed Deposit)] to 'CARE A-(FD)' [Single A Minus (Fixed Deposit)].

Further, CARE has upgraded / revised the rating from 'CARE A3+' (A Three plus) to CARE A2+ (A Two Plus) assigned to the Short Term Bank Facilities and Commercial Paper facility availed / to be availed by the Company. This rating is applicable to facilities having tenure up to one year. Facilities / instruments with this rating are considered to have strong degree of safety regarding timely payment of financial obligations. Such Instruments carry low credit risk.

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