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Ind-Ra upgrades CEAT’s long term issuer rating to ‘AA’

18 Nov 2016 Evaluate

Credit rating agency, Indian Rating and Research (Ind-Ra) has upgraded CEAT’s long term issuer rating to ‘AA’ from ‘AA-’. The outlook is stable. The rating agency has also affirmed the company’s short term issuer rating at ‘A1+’.

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.

Peers
Company Name CMP
MRF 123284.50
Apollo Tyres 401.55
JK Tyres & Inds. 339.55
Ceat 3285.15
Balkrishna Inds. 2067.10
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