Trent has issued and allotted Commercial Paper of an amount of Rs 100 crore. The proceeds will be primarily used to refinance the upcoming repayments.
Credit rating agency, CARE has assigned rating of ‘A1+’ for issue of Commercial Paper by the company. Instruments with ‘A1’ rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.
Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.
