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India Ratings assigns long-term issuer rating of ‘A’ to Phoenix Mills

16 Oct 2014 Evaluate

Credit rating agency, India Ratings & Research (Ind-Ra) has assigned Phoenix Mills a long-term issuer rating of ‘A’ with stable outlook.

The rating agency has taken a standalone view of the company while factoring into the ratings cash flow from/to its various subsidiaries. The key subsidiaries are SPVs with debt having no-recourse to the holding company.

Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.

Peers
Company Name CMP
Lodha Developers 1064.00
Prestige EstatesProj 1412.65
Dilip Buildcon 395.05
DLF 646.50
Oberoi Realty 1697.70
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