KEI Industries Limited has informed the Exchange that India Ratings and Research Private Limited has upgraded ratings of the Company.
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India Ratings and Research has upgraded KEI Industries' long-term credit rating from IND AA to IND AA+ with a Stable Outlook, citing a high degree of safety regarding timely servicing of financial obligations. The short-term bank facility and commercial paper ratings have been affirmed at IND A1+, indicating the lowest credit risk. The upgrade covers working capital facilities of ₹32,100 million and a term loan of ₹6,000 million, spread across multiple banks including SBI, Bank of Baroda, PNB, Axis Bank, ICICI Bank, and HDFC Bank. A commercial paper programme of ₹1,000 million was also rated IND A1+.
This upgrade reflects improved creditworthiness and could lower KEI Industries' future borrowing costs, while signalling financial strength to investors — a positive development for shareholders that may support valuation.