Credit rating agency, CARE has reaffirmed the assigned ‘A1+’ rating to the short-term non-convertible debenture (NCD) issue including commercial paper (CP) of Mercator for reduced amount. The amount is been reduced from Rs 100 crore to Rs 25 crore.
Mercator is the second-largest private sector shipping company on a consolidated basis in India, in terms of tonnage capacity. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
