Credit rating agency, India Ratings and Research has upgraded Eveready Industries India’s long-term credit rating to ‘A+’ from ‘A-’. The agency viewed the company’s credit outlook as stable after its long-term loan reduced to Rs 85.76 crore from Rs 92.5 crore.
The upgrade follows the company’s ability in the recent quarters to increase battery prices while maintaining its volume growth. The company also leveraged the Eveready brand to sell its other products such as LED lights and rechargeable fans.
