From ICRA
International Combustion (India) announced that Credit rating agency ICRA has revised the long-term scale rating on the Rs. 12.25 crore fund based and Rs. 21.00 crore non-fund based working capital credit facilities enjoyed by the Company from its bankers to [ICRA] A- (pronounced as ICRA A minus) [signifying an adequate degree of safety regarding timely servicing of financial obligations and carrying low credit risk].The outlook on the long term scale rating has been revised from Negative to Stable. ICRA has also reaffirmed the [ICRA]A1 (pronounced as ICRA A one) short-term scale rating [signifying a very strong degree of safety regarding timely payment of financial obligations and carrying lowest credit risk] assigned to the Rs 10.00 crore fund based sub-limits and Rs 5.00 crore non-fund based sub-limits within the overall working capital credit facilities enjoyed by the Company from its bankers. The said ratings are valid till 31 March 2016.
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