Greaves Cotton receives affirmation in credit ratings from India Ratings

Greaves Cotton announced that India Ratings and Research has revised the company's outlook to Negative from Stable while affirming the long term issuer rating at IND AA. The instrument wise ratings action are as follows:

Fund based working capital limits - IND AA/ Negative (affirmed; outlook revised to Negative)

Non fund based working capital limits - IND A1+ (affirmed)

Commercial paper - IND A1+ (affirmed)

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