ICRA has upgraded Fineotex Chemical's Long-Term rating to [ICRA]AA- (Stable) from [ICRA]A+ (Positive) for its bank facilities and unallocated limits.

The Short-Term rating of [ICRA]A1+ was reaffirmed.

This upgrade is driven by a stronger scale, enhanced diversification, and robust financial risk profile, stemming from a recent strategic US acquisition.