The rating agency Credit Analysis & Research Ltd has revised its rating to long term bank facilities of INR 302.20 crores and short term / long term bank facilities of INR 1550.00 crores of the company.

The Long term facilities of the Company have been revised from 'CARE A+' (Single A Plus) to 'CARE AA-' [Double A Minus]. Instruments with this rating are considered to have very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

Further the said rating agency has reaffirmed the 'CARE A1+' [A One Plus] rating assigned to the Short Term facilities of the Company including Commercial Paper for an amount of INR 175 crores. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

Further the said rating agency has reaffirmed the 'CARE A1+' [A One Plus] to Commercial Paper issue / Short Term Debt issue of Company aggregating to INR 25.00 croes. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

(Sourced from Equity Bulls)