Rico Auto Industries receives affirmation in credit ratings

From India Ratings and Research

India Ratings and Research (Ind-Ra) has affirmed Rico Auto Industries' (Rico) Long-Term Issuer Rating at 'IND A-' while resolving the Rating Watch Negative (RWN). The Outlook is Stable. The instrument-wise rating actions are as follows:

Term loan - IND A-/ Stable (affirmed; off RWN)
Fund based working capital limit - IND A-/ Stable/ IND A2+ (affirmed; off RWN)
Non fund based working capital credit limits - IND A-/Stable / IND A2+ (affirmed; off RWN)
Term loan / letter of credit - IND A-/Stable (affirmed; off RWN)

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