CARE reaffirms credit rating of Shree Cement; Stock slips 2%

The credit rating agency reaffirmed the A1+ rating on commercial paper and short-term bank facilities.

Sep 24, 2021 12:09 IST India Infoline News Service

Shree Cement
CARE Ratings Limited has reaffirmed the credit ratings of Shree Cement Limited. The credit rating agency reaffirmed rating on Commercial Paper (Carved out) Rs400cr at CARE Al+.

The rating on long-term bank facilities Rs1,100cr has been reaffirmed at CARE AAA; Stable. On short-term bank facilities, Rs800cr CARE Al+ rating was reaffirmed. The issuer rating has also been reaffirmed at CARE AAA (Is); Stable.

At around 12.40 pm, Shree Cement Ltd was trading at Rs29,300 per piece down by Rs600 or 2.01% from its previous closing of Rs29,900 per piece on the BSE.
The scrip opened at Rs30,000 and has touched a high and low of Rs30,000 and Rs29,300 respectively.

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