From ICRA
Bajaj Electricals has received on 28 February 2015, a letter dated 24 February 2015 from ICRA ('Rating Agency') communicating that it has downgraded the rating of Company's Commercial Paper (CP) programme of Rs. 200 crore from [ICRA] A1 + (pronounced ICRA A one plus) to [ICRA] A1 (pronounced ICRA A one).Further, the said Rating Agency, vide its letter dated 24 February 2015 has communicated that it has downgraded the rating for Company's Line of Credit (LOC) of Rs. 2334.41 crore as under:
1. Long Term rating from [ICRA] A+ (pronounced ICRA A plus) to [ICRA] A (pronounced ICRA A); and
2. Short Term rating from [ICRA] A1+ (pronounced ICRA A one plus) to [ICRA] A1 (pronounced ICRA A one).
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