Deepak Nitrite outlook revised to stable from positive

ICRA Limited reaffirmed Deepak Nitrite Limited's long-term rating at [ICRA] AA and short-term rating at [ICRA] A1+ for ₹490 crores of bank facilities and ₹200 crores of commercial paper. However, the outlook on the long-term rating was revised from positive to stable.

Wholly owned subsidiary Deepak Phenolics Limited also had its ratings reaffirmed at [ICRA] AA and [ICRA] A1+ for ₹729.02 crores of bank facilities, with its outlook similarly revised to stable from positive.

Another subsidiary, Deepak Chem Tech Limited, maintained its [ICRA] A and [ICRA] A2+ ratings for ₹200 crores of bank facilities with a stable outlook.