Credit rating agency, India Ratings and Research has upgraded rating to ‘A1+’ from ‘A1’ assigned to Shoppers Stop’s Short-term debt/Commercial Paper (CP) worth Rs 1,000 crore. The rating agency has also upgraded rating to ‘A1+’ from ‘A1’ assigned to the company’s CP worth Rs 500 crore.
Shoppers Stop is engaged in the retailing business. It runs a chain of departmental stores with brands including Shopper’s Stop, Home Stop, Crossword, Cafes and Restaurants etc.