Credit rating agency, ICRA has assigned ‘A1+’ rating to Godrej Industries’ Commercial Paper Programme worth Rs 500 crore which was enhanced from Rs 410 crore. Instrument with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.
The rating agency has also assigned the long term rating of ‘AA’ to the company’s additional limit worth Rs 125 crore. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. The long term rating carries a stable outlook.
Godrej Industries is part of the Godrej group, one of the leading business groups in India and is in the businesses of Oleo-chemicals, surfactants, finance & investments and estate management. It has substantial interests in several industries including property development, oil palm plantation, animal feeds and agro-products, poultry, personal care and household care etc., through its subsidiaries, associate companies and joint venture.
