ICRA reaffirmed AA-plus rating with stable outlook on United Spirits Ltd (USL) long term, short term and fundless financial instruments Rs 3,425 crore.
He also reaffirmed the A1-plus note on USL’s commercial paper and withdrew the note on the Rs 750 crore non-convertible debentures at the company’s request as there was no outstanding against the facility.
ICRA said ratings continue to take into account USL’s strong operational and financial flexibility, in addition to strong corporate governance and compliance practices, as it is a 55.94% subsidiary. by Diageo Plc.
USL continues to benefit …
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