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Home / Companies / News / Ind-Ra upgrades Eveready's long-term credit ratings, outlook positive

Ind-Ra upgrades Eveready's long-term credit ratings, outlook positive

Rating agency says upgrade reflects improvement in firm's financial profile and liquidity in 1HFY21, which was continuing in 2HFY21 backed by better profitability

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Ind-Ra expects EIIL’s EBITDA margins over FY21-22 to stabilize at 14-16 per cent, helped by the improved performance of the lighting and appliance segments over 2HFY21-FY22.

Ishita Ayan Dutt Kolkata

2 min read Last Updated : Jan 05 2021 | 11:08 PM IST

Eveready Industries India informed the stock exchanges on Tuesday that India Ratings and Research has upgraded its long term credit ratings, reflecting an improvement in the company’s financial profile and liquidity position.

In a filing with the exchanges, Eveready said that the company’s long-term credit ratings had been upgraded to 'IND BBB-' from 'IND BB+' and the outlook remained positive.

India Ratings said that the upgrade reflected an improvement in Eveready Industries India’s (EIIL’s) financial profile and liquidity position in 1HFY21, which was continuing in 2HFY21 backed mainly by a substantial improvement in profitability.

The positive outlook reflects Ind-Ra’s expectations

Topics : Coronavirus Ind-Ra Eveready Industries credit rating Khaitans