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Burger King Share Price News: Burger King Gains After Credit Rating Upgrade From ICRA

Burger King Gains After Credit Rating Upgrade From ICRA Shares of quick service restaurant chain operator Burger King rose as much as 4 per cent to hit an intraday high of Rs 132.60. Updated: April 06, 2021 12:13 pm IST Shares of quick service restaurant chain operator Burger King rose as much as 4 per cent to hit an intraday high of Rs 132.60 after the credit rating agency ICRA upgraded its credit rating to stable from negative. ICRA upgraded its outlook on long-term loan worth Rs 210 crore, long-term bank overdraft worth Rs 20 crore and short-term bank guarantee of Rs 10 crore to A2 from BBB+ and revised outlook from Negative to Stable.

Burger King India shares rallies 4% as ICRA upgrades long-term rating

Burger King India shares advanced 4 per cent to Rs 132.6 apiece on the BSE in the intra-day trade on Tuesday after rating agency ICRA upgraded the firm s long-term ratings. Besides, the agency also revised the outlook from negative to stable . ICRA, on Monday, revised Burger King India s Long-term/Short-term unallocated amount s rating to ICRA A-/ICRA A2+, ICRA BBB+/ICRA A2. The ratings upgrade takes into account significant improvement credit metrics of Burger King India Limited’s due to prepayment of entire debt on its balance sheet following successful completion of IPO in Dec 2020, the agency said in its rating rationale.

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