Laxmi Organic Industries receives upgrade in long term issuer ratings

From India Ratings

Laxmi Organic Industries announced that India Ratings and Research (Ind-Ra) has upgraded Laxmi Organic Industries' (LOIL) Long-Term Issuer Rating to 'IND AA-' from 'IND A+'. The Outlook is Stable. The instrument-wise rating actions are as follows:

Term loans - IND AA-/Stable (upgraded)
Fund based working capital facility - IND AA-/ Stable; IND A1+ (long term rating upgraded; short term rating affirmed)
Non fund based working capital facility - IND A1+ (affirmed)
Commercial paper - IND A1+ (affirmed)

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