(ADPnews) - Aug 31, 2009 - Indian credit rating agency CRISIL said Friday it changed to "stable" from "negative" the outlook on the 'A-' rated INR 1.2 billion (USD 25m/EUR 17m) cash credit of local agrochemicals company Excel Crop Care Ltd (BOM:532511).
The agency also confirmed at P2+ the rating on the company's INR 400 million letter of credit.
The revision in outlook is based on the fact that CRISIL has now taken a stand-alone view of the business and financial risk profiles of Excel Crop Care. Previously, the agency had combined the business and financial risk profiles of the company and Indian peer Excel Industries Ltd (BOM:500650) because the working …
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