ICRA reaffirms AA-plus rating on United Spirit's financial instruments ANI | Updated: Feb 27, 2021 12:05 IST Bengaluru (Karnataka) [India], Feb 27 (ANI): ICRA has reaffirmed AA-plus rating with a stable outlook on United Spirits Ltd's (USL's) Rs 3,425 crore long-term, short-term and non-fund based financial instruments. It also reaffirmed A1-plus rating on USL's commercial paper and has withdrawn the rating on Rs 750 crore non-convertible debentures at the company's request as there was no outstanding against the facility. ICRA said the ratings continue to factor in USL's strong operational and financial flexibility besides robust corporate governance and compliance practices by virtue of being a 55.94 per cent subsidiary of Diageo Plc.