India’s JK Tyre improves debt rating

JK Tyre & Industries has raised its short and long term debt ratings from A1 to A1+ and A to A+ respectively. Arun K Bajoria, president of JK Tyre, told The Times of India that the improved credit ratings were “testimony to JK Tyre’s strong fundamentals.” The upgrade, which considers JK Tyre to carry a very strong degree of safety in terms of the timely payment of financial obligations in the short term, was made by CARE Ratings.