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The Credit rating agency ICRA has upgraded Gulf Oil Lubricants India Limited assigning the long term rating of ICRA A and short term rating of ICRA A1 to the term loans, fund based limits and non-fund based limits.
It stated that the outlook on the long term rating is stable. This upgradation of the rating for the Hinduja Group company in the long and short terms reflects the company’s consistent growth track record and well recognised brand strengths in the lubricants industry.
The Gulf Oil Lubricants India Limited is the demerged and recently listed lubricants business of the listed parent company Gulf Oil Corporation Limited.
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