ICRA reaffirms AA-plus rating on United Spirit s financial instruments ANI | Updated: Feb 27, 2021 12:05 IST
Bengaluru (Karnataka) [India], Feb 27 (ANI): ICRA has reaffirmed AA-plus rating with a stable outlook on United Spirits Ltd s (USL s) Rs 3,425 crore long-term, short-term and non-fund based financial instruments.
It also reaffirmed A1-plus rating on USL s commercial paper and has withdrawn the rating on Rs 750 crore non-convertible debentures at the company s request as there was no outstanding against the facility.
ICRA said the ratings continue to factor in USL s strong operational and financial flexibility besides robust corporate governance and compliance practices by virtue of being a 55.94 per cent subsidiary of Diageo Plc.