Brigade Enterprises credit rating upgraded by ICRA

ICRA Limited has upgraded Brigade Enterprises' long-term credit rating to [ICRA]AA(Stable) from [ICRA]AA-(Stable) for its fund-based term loans and unallocated limits.

The upgrade applies to INR 2,405 crores in long-term fund-based term loans and INR 345 crores in unallocated long-term limits. The company's short-term rating was reaffirmed at [ICRA]A1+ for INR 250 crores in cash credit and overdraft facilities.