Mumbai, April 5 -- CARE Ratings said that the revision in the rating assigned to bank facilities of Elpro International Limited (EIL) factors in improvement in occupancy level in retail mall and consequent positive impact on financial performance in the ensuing quarters and sustained near full occupancy in business park. The rating further notes the healthy investment portfolio of the company.

The rating continues to derive strength from established promoter group with presence across diverse business verticals, favourable location of properties, diversified tenant profile comprising reputed tenants/brands, comfortable capital structure and debt protection metrices and presence of escrow mechanism and debt service reserve account (DSRA)....