Credit rating agency, ICRA has revised the ratings assigned to bank facilities of Minda Industries. The credit rating agency has upgraded the rating assigned to long-term facilities from ‘A-‘ to ‘A’.
Besides, it has also upgraded the rating assigned to short-term facilities from ‘A2+‘ to ‘A1’. The outlook rating on long-term rating is stable.
Minda is the third-largest company in the local auto-lighting business, with 18 per cent market share.