CRISIL upgrades Gujarat Pipavav Port’s short term credit rating

Gujarat Pipavav Port 's long term credit rating has been reaffirmed by the credit rating agency, CRISIL at ‘A+’ with Stable Outlook , while the short term credit rating of the company has been upgraded to A1+ from ‘A1.

Gujarat Pipavav Port is the developer and operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. Promoter APM Terminals Mauritius currently holds 57.9% stake in the company, pre issue. Among institutions, IDBI Trusteeship Services and IDBI Bank are the major shareholders with 10.2% and 8.9% stake.