Credit rating agency, CARE has reaffirmed ‘AAA’ rating to Great Eastern Shipping’s Non Convertible Debentures worth Rs 1700 crore. The rating agency has also reaffirmed ‘AAA/ A1+’ rating to company’s long-term/short-term bank facilities worth Rs 50 crore.
The ratings of Great Eastern Shipping Company (GE Shipping) continue to derive strength from the established track record of the company with an experienced and professionally qualified management, low average age of fleet resulting in better operating efficiency, diversified fleet profile and comfortable capital structure and liquidity position. The ability of the company to gainfully deploy its assets amidst challenging operating environment (especially in dry bulk segment) and maintain its capital structure as well as liquidity profile remain the key rating sensitivities.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore. On a consolidated basis, the shipping and offshore business contributed around 57% and 43% respectively to the total revenue in FY15 as compared to 55% and 45% respectively in FY14.
| Company Name | CMP |
|---|---|
| Shipping Corpn. | 338.75 |
| GE Shipping | 1586.75 |
| Dredging Corp | 952.90 |
| Seamec | 1502.55 |
| Shreeji Ship.Global | 415.85 |
| View more.. | |
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