India Ratings and Research (Ind-Ra) has downgraded Eveready Industries India's Long term Credit Rating to ‘BBB-‘ from ‘BBB’ and maintained it on Rating watch Negative. The reasons for the said downgraded credit ratings as provided, are continued high leverage and weakened financial flexibility & low liquidity buffers.
Eveready Industries India (formerly known as Union Carbide India) is engaged in the manufacture of dry cell batteries and flashlights. It also manufactures tea under the brands Tez, Jaago, Premium Gold and Classic and insect repellents under the brand Eveready Poweron. The company was founded in 1905 and is based in Kolkata, West Bengal.
