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ICRA reaffirms ratings assigned to Mahanagar Gas’ bank facilities

04 Jul 2018 Evaluate

The credit rating agency, ICRA has re-affirmed rating assigned to Mahanagar Gas’ Long Term, Non-fund based limits worth Rs 200 crore at ‘AAA/Stable’.

The rating agency has re-affirmed rating assigned to the company’s Short Term, Non-fund based limits worth Rs 400 crore at ‘A1+/Stable’ and also re-affirmed rating assigned to the company’s Long Term Debt Programme worth Rs 100 crore at ‘AAA/Stable’.

Mahanagar Gas is a city gas distribution company. The company is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its adjoining areas and in the Raigad district in the state of Maharashtra.

Peers
Company Name CMP
GAIL (India) 167.05
Gujarat Energy 220.40
Indraprastha Gas 142.70
Mahanagar Gas 1040.85
Adani Total Gas 576.00
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