ICRA upgrades IRIS Business Services' credit ratings

IRIS Business Services Limited [BSE:IRIS] announced that ICRA Limited has upgraded its long-term credit rating to [ICRA]BBB (Stable) from [ICRA]BBB- and short-term rating to [ICRA]A3+ from [ICRA]A3, effective July 1, 2025. The upgrade impacts bank facilities totaling INR18.08 crore. The long-term rating applies to a INR11.08 crore ICICI Bank cash credit facility. The short-term rating covers INR5.50 crore of ICICI Bank non-fund based limits for bank guarantees and a INR1.50 crore ICICI Bank forward contract. ICRA's rationale states the outlook for the long-term rating as "Stable".