From ICRAInternational Combustion (India) announced that ICRA has reaffirmed the long-term scale rating on the working capital credit facilities enjoyed by the Company from its bankers on consortium basis of [ICRA]BBB- (pronounced as ICRA triple B minus) [signifying a moderate degree of safety regarding timely servicing of financial obligations and carrying moderate credit risk]. The outlook on the long term scale rating is Stable. ICRA has also reaffirmed the short-term scale rating on the aforementioned facilities of [ICRA]A3 (pronounced as ICRA A three) [signifying a moderate degree of safety regarding timely servicing of financial obligations and carrying higher credit risk as compared to instruments/ facilities rated in the higher categories].
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