Asahi India Glass has announced that CARE Ratings Limited has upgraded its long-term bank facilities’ credit rating. The long-term bank facilities have been upgraded to CARE AA-; Stable from CARE A+; Stable. Additionally, the rating for long term/short term bank facilities has been upgraded to CARE AA-; Stable / CARE A1+, with the short term rating reaffirmed.
Credit Rating Upgrade
CARE Ratings Limited has upgraded the credit ratings for Asahi India Glass’s long-term bank facilities. The upgrade reflects the company’s improved financial risk profile and operational performance.
Revised Ratings Details
The details of the upgraded credit ratings are as follows:
- Long Term Bank Facilities: Upgraded to CARE AA-; Stable from CARE A+; Stable.
- Long Term / Short Term Bank Facilities: Rated at CARE AA-; Stable / CARE A1+, with the short-term rating reaffirmed.
The upgrade to CARE AA- indicates a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
Source: BSE
