Deepak Fertilisers' credit outlook upgraded to positive

Deepak Fertilisers & Petrochemicals Corporation Limited (DFPCL) announced that ICRA has reaffirmed its credit ratings and revised the outlook on the company's long-term instruments to "Positive" from "Stable." The long-term fund-based term loan and cash credit facilities are rated [ICRA]AA-(Positive). The short-term non-fund based limits are reaffirmed at [ICRA]A1+. The upgrade reflects ICRA's expectation of healthy improvements in the company’s credit profile from FY2027, driven by the completion of ongoing capital expenditure programs and enhanced profitability at Performance Chemiserve Limited (PCL). ICRA anticipates increased cash generation and operational scale following the timely execution of projects related to technical ammonium nitrate (TAN) and nitric acid.