CRISIL upgrades Gujarat Pipavav Port’s short term credit rating

29 May 2012

Gujarat Pipavav Port 's long term credit rating has been reaffirmed by the credit rating agency, CRISIL at ‘A+’ with Stable Outlook , while the short term credit rating of the company has been upgraded to A1+ from ‘A1.

Gujarat Pipavav Port is the developer and operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. Promoter APM Terminals Mauritius currently holds 57.9% stake in the company, pre issue. Among institutions, IDBI Trusteeship Services and IDBI Bank are the major shareholders with 10.2% and 8.9% stake.

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