Credit rating agency, Indian Rating and Research (Ind-Ra) has upgraded CEAT’s long term issuer rating to ‘AA’ from ‘AA-’. The outlook is stable. The rating agency has also affirmed the company’s short term issuer rating at ‘A1+’.
CEAT is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.