Credit rating agency, ICRA has upgraded credit rating of Mcleod Russel India’s long term bank facilities to ‘AA+’ from ‘AA’. The rating signifies that the outlook of the long-term rating is stable. Further, the rating agency has reaffirmed rating of the short-term bank facilities of the company at A1+. The said ratings are valid till July 31, 2014.
McLeod Russel India is the largest tea producing company in the world. In July 2005 McLeod Russel acquired Borelli Tea Holdings from the Magor family based in England and took over the 17 tea gardens of its Indian subsidiary Williamson Tea Assam. McLeod Russel is the largest tea exporter from India with a strong customer base in United Kingdom and Europe.
