The credit rating agency, CARE has upgraded the long-term rating of Gulf Oil Lubricants from ‘AA-; Stable’ to ‘AA’ on the long term bank facilities aggregating to Rs 50 crore. The outlook on the long-term rating is ‘Stable’.
Gulf Oil Lubricants, part of Hinduja Group, is an established player in Indian lubricant market. It markets a wide range of automotive and industrial lubricants, greases, 2-wheeler batteries, etc.