News

ICRA reaffirms Godrej Prop credit rating

Bengaluru, February 19, 2024: Godrej Properties Ltd. (GPL), on Monday announced reaffirmation of credit rating by ICRA.

Credit Rating Limits for bank facilities have been reaffirmed at [ICRA]AA+/[ICRA]A1+ with an enhancement of Rs. 6,500 crore. Outlook on the long-term rating is “Stable”. Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Rating for INR 2,000 Crore Commercial Paper (CP) reaffirmed at [ICRA]A1+. Instruments with [ICRA]A1+ rating are considered to have a very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk.

Long–term rating for INR 4,000 crore NCD Borrowing Program reaffirmed at [ICRA]AA+. Outlook on the long-term rating is “Stable”. Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Rating Agency	Instrument	Amount(INR in crore)	Ratings	Rating Actions
ICRA Limited	Non-ConvertibleDebentures Program	4,000	[ICRA]AA+ (Stable)	Reaffirmed
	Long/Short Term -Fund-based/Non fund based	11,000(enhanced from INR 4,500 Crore)	[ICRA]AA+(Stable)(long-term rating)[ICRA]A1+(short-term rating)	Reaffirmed / Assigned
	Commercial Paper	2,000	[ICRA]A1+	Reaffirmed