Mumbai, June 9 -- The agency has reaffirmed the company's short-term rating at 'ACUITE A4'.

Acuite Ratings stated that the rating upgrade and transition from 'Issuer non-cooperating' reflects the regularization of earlier delays as was reported by Credit Bureau Information.

The rating further takes into account the decreasing operating income and EBDITA losses, albeit moderate financial risk profile and stretched liquidity. The rating also factors the benefits derived from diversified revenue segments and business acumen of management.

Andrew Yule and Co is a public sector entity engaged primarily in the tea processing business. AYCL has several tea gardens in West Bengal and Assam.

The company had reported a consolidated net loss Rs ...