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ICRA upgrades rating assigned to NCD issue of MRF

22 Jul 2016 Evaluate

Credit rating agency, ICRA has upgraded the rating for the MRF’s Non-Convertible Debenture [NCD] Programme in their yearly surveillance from AA+ to AAA worth Rs 500 crore issued in 2011.

MRF is engaged in the manufacturing, distribution and sale of tyres for various kinds of vehicles. Its product includes tyres, conveyor belts, pretreads, paints and coats. The company offers tyre shopping, tyredrome and tyre maintenance services. It also provides an institute for driver development.

Peers
Company Name CMP
MRF 124570.90
Apollo Tyres 405.95
JK Tyres & Inds. 355.25
Ceat 3433.10
Balkrishna Inds. 2198.45
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