 "The Burman family, which has known the Khaitan family for decades, has been buying into Eveready since March 2019")
Shares of Eveready Industries gained 3 per cent to Rs 137 apiece on the BSE on Thursday after rating agency India Ratings and Research upgraded the company’s Long Term Credit Ratings to ‘IND BB+’ from ‘IND BB’. Moreover, the outlook has been changed to 'positive'.
According to the latest ratings upgrade, Eveready's Term Loans are rated 'IND BB+' with a 'Positive' outlook. That apart, reaffirmed Fund-based Limits Long Term/Short Term rating as 'IND BB+' with 'Positive/IND A4+' outlook, and Non-fund based Limits Long Term/Short Term rating as 'IND BB+' with 'Positive/IND A4+' outlook.
"The upgrade reflects EIIL’s improved liquidity position aided by
