India Ratings and Research has downgraded the long-term loan ratings of Eveready Industries India Ltd. (EIIL) on account of its high net leverage and weakened liquidity, the firm said in a regulatory filing.
The company said that the instruments which saw the downgrade included fund-based limits, non-fund based limits and commercial paper. The issue size of the instruments varied between ₹31 crore short-term loan and ₹301 crore term loan.