India Ratings and Research (Ind-Ra) has upgraded CCL Products (India)'s(CCL) Long-Term Issuer Rating to 'IND AA-' from 'IND A+'. The Outlook is Stable. The instrument-wise rating actions are as follows:
Fund-based working capital limits (Rs 225 crore) - IND AA-/Stable/IND A1+ (long-term rating upgraded; short-term rating affirmed)
Non-fund based working capital limits (Rs 25 crore) - IND A1+ (affirmed)
Term loans with maturity date FY26 (Rs 297.5 crore) - IND AA-/Stable (upgraded)
Term loan with maturity date FY24 (Rs 43.7 crore) - IND AA-/Stable (assigned and upgraded)
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