CRISIL upgrades Tecpro Systems rating.

(ADPnews) - Oct 29, 2010 - Indian rating agency CRISIL yesterday revised up the rating on the long-term bank facilities of Tecpro Systems Ltd, part of the Tecpro group (NSE:TECPRO), to A+/stable from A/positive.

The agency issued the following press release:

Rs.2.60 Billion Cash Credit Limit* A+/Stable (Upgraded from A/Positive)

Rs.2.04 Billion Proposed Cash Credit/Bill Discounting A+/Stable (Upgraded from A/Positive)

Rs.980 Million Long-Term Loan A+/Stable (Upgraded from A/Positive)

Rs.400 Million Overdraft Facility** A+/Stable (Upgraded from A/Positive)

Rs.1.50 Billion Commercial Paper P1 (Reaffirmed)

Rs.200.0 Million Short-Term Loan^ P1 (Reaffirmed)

Rs.200.0 Million Bill Discounting^ P1 (Reaffirmed)

Rs.10.40 Billion Bank Guarantee^^ P1 (Reaffirmed)

Rs.6.30 Billion Bank Guarantee/Letter of Credit P1 (Reaffirmed)

Rs.1.35 Billion Letter of Credit P1 (Reaffirmed)

Rs.30.0 Million Foreign Bill Discounting (Letter of Credit) P1 (Reaffirmed)

*Interchangeable with export packing credit up to Rs.300 million, cheque discounting up to Rs.200 million, foreign bill discounting (non-letter of credit) up to Rs.20 …