CARE reaffirms rating of Trent’s NCDs
Date: 09-05-2013Credit rating agency, CARE has reaffirmed AA rating to Trent’s Non-Convertible Debentures (NCDs) amounting Rs 225 crore and long-term bank facilities of Rs 71.94 crore. The rating agency has also reaffirmed A1+ rating to company’s short-term bank facilities of Rs 18.00 crore.
The instruments with the rating 'AA' are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. Further, instruments with the rating 'A1+' are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.
Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.