Paras Defence and Space Technologies Ltd announced that ICRA Limited, a credit rating agency, has upgraded the ratings for its various instruments. Specifically, ICRA Limited upgraded the long-term fund-based cash credit facilities to [ICRA] A (Stable) from [ICRA] A- (Positive), with the outlook revised to Stable from Positive; the long-term fund-based overdraft facilities to [ICRA] A (Stable) from [ICRA] A- (Positive), with the outlook revised to Stable from Positive; and the long-term/short-term non-fund-based bank guarantee & letter of credit facilities to [ICRA] A (Stable) from [ICRA] A- (Positive), with the outlook revised to Stable from Positive, while reaffirming [ICRA] A2+ for the same; no other rating agencies were mentioned and no ratings were withdrawn.
