ICRA upgrades ratings assigned to bank facilities of Minda Industries

09 Dec 2014 Evaluate

Credit rating agency, ICRA has revised the ratings assigned to bank facilities of Minda Industries. The credit rating agency has upgraded the rating assigned to long-term facilities from ‘A-‘ to ‘A’.

Besides, it has also upgraded the rating assigned to short-term facilities from ‘A2+‘ to ‘A1’. The outlook rating on long-term rating is stable.

Minda is the third-largest company in the local auto-lighting business, with 18 per cent market share.

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