Paradeep Phosphates' credit ratings upgraded by ICRA

Paradeep Phosphates announced that ICRA Limited has upgraded its long-term fund-based cash credit and term loan ratings from [ICRA]A to [ICRA]A+ with a "Rating Watch with Developing Implications," according to a regulatory filing. ICRA also affirmed the [ICRA]A1 rating for short-term non-fund based facilities and commercial paper with a "Rating Watch with Developing Implications." As of February 25, 2025, the rated amount for long-term fund-based cash credit stands at ₹2700 crore, short-term non-fund based facilities at ₹8,000 crore, long-term fund-based term loan at ₹2000 crore, and commercial paper at ₹300 crore. The ratings agency noted that the ratings are subject to surveillance and potential review based on new information. The company's stock symbol on the NSE is PARADEEP and scrip code on the BSE is 543530.