KEI Industries Gets ICRA Rating Upgrade; Outlook Changed to Stable

KEI Industries Ltd. on Wednesday said ICRA Ltd. has upgraded its long-term bank facility rating to 'AA+' from 'AA' and revised the outlook to 'stable' from 'positive'. The rating agency also reaffirmed the 'A1+' rating on the company’s short-term bank facilities and commercial paper, the company said in an exchange filing.

ICRA said the 'A1+' rating indicates a high degree of safety regarding timely servicing of financial obligations and very low credit risk.