CARE Ratings upgraded its rating on TVS Motor's (NSE:TVSMOTOR, BOM:532343) long-term bank facilities and non-convertible debentures to AAA from AA+.
The rating agency affirmed A1+ rating on the automobile manufacturer's short-term bank financing and commercial paper, according to a Thursday filing with the Indian exchanges.
The rating outlook is stable.
Shares of the company jumped 4% in morning trade on Friday.
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