Credit rating agency -- ICRA has reaffirmed long-term rating of Deepak Nitrite at ‘AA’ and Short Term rating at ‘A1+’ for Rs 490 crore bank facilities and Rs 200 crore Commercial Paper (CP). The outlook on the long-term rating has been revised to positive from stable.
Besides, the rating agency upgraded long term rating of Deepak Phenolics (DPL), a wholly owned subsidiary of the Deepak Nitrite from ‘AA-’ to ‘AA’ and re-affirmed Short Term rating at ‘A1+’ for Rs 756.27 crore bank facilities. The outlook on the long-term rating has been revised to positive from stable.
Deepak Nitrite is a leading manufacturer of organic, inorganic, fine and specialty chemicals.
