CARE Ratings Ltd. has reaffirmed credit ratings on bank facilities, Non-Convertible Debentures (NCDs), and Commercial Paper (CP) of
UPL Limited. The outlook on long-term facilities has been revised to Stable from Negative.
The rating on two instruments of NCDs Rs150cr has been reaffirmed to CARE AA+ with an outlook revised from Negative. On Commercial Paper Rs1,500cr (Enhanced from Rs1,350cr) CARE, A1+ has been reaffirmed.
The credit rating agency reaffirmed long-term / short-term bank facilities Rs1,650cr to CARE AA+ / CARE A1+. Outlook revised to Stable from Negative.
The rating on short-term bank facilities Rs850cr has been reaffirmed at CARE A1+.
At around 9.52 AM, UPL Ltd was trading at Rs832.90 per piece down by Rs4.55 or 0.54% from its previous closing of Rs837.45 per piece on the BSE.