Mumbai, March 12 -- The agency has reaffirmed the short-term rating of 'ACUITE A4' on the Rs. 38.10 crore bank facilities of AYCL.

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 is a multiproduct, multi-un...