CCL Products (India) Limited — Credit Ratings, 16-05-2025: Credit Rating- Revision

India Ratings has reaffirmed CCL Products (India) Limited’s long-term issuer rating at ‘IND AA-’ with a Negative Outlook, while maintaining the short-term rating at ‘IND A1+’. The rating action reflects stable credit metrics despite a term loan reduction from ₹135 crore to ₹106 crore. The Negative Outlook indicates caution around near-term challenges but stops short of an immediate downgrade. This rating supports the company’s ability to raise funds at favorable rates and maintains investor confidence, though liquidity and financial performance will require close monitoring given sector and macroeconomic pressures.