Credit rating agency, India Ratings & Research has upgraded the ratings assigned to bank facilities of IG Petrochemicals. The credit rating agency has upgraded the long-term borrowings from ‘BBB+’ to ‘A-’ while the short-term rating has been upgraded from ‘A2+’ to ‘A1’.
IG Petrochemicals is a dominant player in the domestic Phthalic Anhydride (PAN) industry. IGPL has its manufacturing facilities located at Taloja, Maharashtra.