Fitch revises UPL view to stable

Fitch Ratings said it revised UPL Corp. Ltd.’s outlook to stable from negative and affirmed the issuer default rating at BBB-. The agency also affirmed UPL Corp.'s senior unsecured rating and the ratings on its senior unsecured notes at BBB-.

“The outlook revision reflects our expectation that the parent UPL Ltd.’s (UPL) leverage, measured by total debt-to-EBITDA, will decline to a level consistent with the rating. UPL Corp.'s rating is based on the consolidated profile of UPL,” Fitch said in a press release.

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