Credit rating agency, CARE has reaffirmed ‘A1+’ rating to Ceat’s proposed Commercial Paper (CP) issue worth Rs 200 crore. The reaffirmation of rating assigned to the proposed CP issue of the company reflects healthy operating performance during FY15 and Q1FY16 resulting in stable financial risk profile and comfortable debt coverage metrics despite large capital expenditure plans.
Ceat is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.
