Cox & Kings has informed that Credit Analysis & Research Ltd (CARE), the Rating Agency, has reaffirmed and enhanced the Commercial Paper issue carved out of sanctioned working capital limit of the Company from the existing Rs 450 Crores to Rs 750 Crores. The Rating has been reaffirmed as CARE A1+. The Rating agency has also reaffirmed the Commercial Paper issue rating to CARE A1+. Instruments with this rating indicate very strong capacity for timely payment of financial obligations and carry lowest credit risk. CARE has also reaffirmed and enhanced the long term bank facilities of the Company from existing Rs 560 Crores to Rs 874 Crores. The Rating has been reaffirmed as CARE AA. The Rating agency has also reaffirmed the rating as CARE AA to the Non-Convertible Debenture issue of the Company. Instruments with this rating indicate high degree of safety for timely servicing of debt obligations and carry very low credit risk.
The above information is a part of company’s filings submitted to BSE.
