Credit Rating Agency, ICRA has upgraded rating assigned to the TV18 Broadcast's bank facilities of the company have been upgraded, reaffirmed at AA+/A1+ from [ICRA]A/[ICRA]A1+. The outlook on the long-term rating has been changed to stable from positive.

The short-term rating on the Rs 2 billion commercial paper programme of TV18 has been reaffirmed at A1+ (pronounced ICRA A one plus).

ICRA has also reassigned the rating on the Rs 2 billion commercial paper programme of TV18 to A1+ from A1+(SO) as there is no standby facility against the same and added the same to the total commercial paper progamme limits that aggregate to Rs 4 billion.

ICRA has also upgraded the rating assigned to the Fixed Deposit Programme of TV18 to MAA+ (stable) from MA (positive) and placed the same on notice of withdrawal for six months at the request of the company. As per ICRA's policy, the ratings will be withdrawn after six months from the date of this withdrawal notice.

Shares of the company gained Rs 0.05, or 0.11%, to trade at Rs 45.40. The total volume of shares traded was 453,101 at the BSE (11.13 a.m., Monday).