Credit rating agency, ICRA has assigned short term rating of ‘A1+’ to Rs 250 crore (enhanced from Rs 1,500 crore to Rs 1,750 crore) Commercial Paper programme of Aditya Birla Nuvo.
The assigned rating take into account market leading position for its various manufacturing and services businesses, diversified revenue streams providing stability to cash flows and its conservative financial structure.
Aditya Birla Nuvo is a $4.5 billion conglomerate by revenue size. The company, part of Aditya Birla Group, is present across financial Services, telecom, fashion & lifestyle, IT-ITeS and manufacturing businesses.
