ICRA upgrades long term credit rating of Minda Industries

MINDAMinda Industries said that credit rating agency ICRA has upgraded the long term credit rating of the company by one notch from A+ to AA- and added that the outlook on the long-term rating was ‘Stable’.

The short term rating of the company remains at A1+ added the company.

ICRA has said that, the ratings as stated are specific to the terms and conditions of the Line of Credit (LOC) as indicated by the company.

Line of Credit an amount of credit extended to a borrower.