Eveready Industries slips 3% on rating downgrade by India Ratings

It kept commercial paper rating as IND A2 with rating watch as negative.

The share price of Eveready Industries India declined 3.6 percent in the early trade on Tuesday after rating downgrade by India Ratings and Research.


The rating agency India Ratings and Research has downgraded the company's long term credit rating to 'IND BBB' from 'IND A+' and maintained it on rating watch as negative.

It kept commercial paper rating as IND A2 with rating watch as negative.

The reasons for the said downgraded credit ratings as provided, are increased leverage and weakened liquidity.

At 09:21 hrs Eveready Industries India was quoting at Rs 88.85, down Rs 2.05, or 2.26 percent on the BSE.

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