Credit rating agency, ICRA has reaffirmed the ratings assigned to bank facilities of Godrej Industries. The credit rating agency has reaffirmed ‘A1+’ rating assigned to the Commercial Paper Programme of the company amounting to Rs 700 crore (previous year Rs 600 crore), with Rs 640 crore to be issued on a standalone basis. Instruments with ‘A1’ rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk. Within this category, certain instruments are assigned the rating of ‘A1+’ to reflect their relatively stronger credit quality.
The credit rating agency has reaffirmed the ‘A1+’ rating assigned to the Short Term Loan of Rs 200 crore (previous year Rs 300 crore). Instruments with this ‘A1’ rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk. Within this category, certain instruments are assigned the rating of ‘A1+’ to reflect their relatively stronger credit quality.
Besides, the rating for Public Deposit has been reaffirmed as ‘MAA+’. Instruments with this rating are considered to have the high-credit-quality. The rated deposits programme carries low credit risk. Further, the agency has reaffirmed the ‘AA’ rating to the long Term Loan of the company amounting to Rs 800 crore. Instruments with ‘AA’ rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
| Company Name | CMP |
|---|---|
| BASF India | 3703.10 |
| Tata Chemicals | 709.05 |
| SRF | 2493.65 |
| Pidilite Inds. | 1393.25 |
| Deepak Nitrite | 1538.00 |
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