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 |
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