CARE assigns credit rating on Gujarat Gas bank facilities; Stock up 1%

The company continues to derive strength from GGL’s leading position in the city gas distribution (CGD) business in India.

Sep 16, 2021 02:09 IST India Infoline News Service

CARE Ratings has assigned CARE AA+; Positive / CARE A1+ ratings on long-term / short-term bank facilities Rs2,000cr of Gujarat Gas Limited.

“The ratings assigned to the bank facilities of Gujarat Gas Limited (GGL) continue to derive strength from GGL’s leading position in the city gas distribution (CGD) business in India, its well-established and significantly large scale of operations, established gas-sourcing arrangements, and moderately diversified customer segment mix,” the company shared CARE Rating rationale on Wednesday.

At around 2.17 pm, Gujarat Gas Ltd was trading at Rs682.05 per piece up by Rs7.55 or 1.12% from its previous closing of Rs674.50 per piece on the BSE.

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