The Phoenix Mills (PML) has received Rating Upgrades for Long Term as well as Short Term borrowings from India Ratings and Research (Ind?Ra). The rating agency has upgraded the company’s Long Term Issuer Rating to ‘A+’ from ‘A’ indicating Stable Outlook and short Term rating too is upgraded from ‘A1’ to ‘A1+’ (the highest possible rating for Short Term) which will help the company in raising funds by the way of commercial papers at the least possible cost, any time in future.
The Phoenix Mills (PML) is a leading retail mall developer and operator in India with approximately 6.0 million square feet of retail space spread across 8 malls in 6 gateway cities of India. PML is the pioneer of retail?led, mixed?use developments in India and has developed over 17.5 million square feet spread across retail, hospitality, commercial, and residential asset classes.
