CARE reaffirms Phillips Carbon Black's long term credit rating at AA-/Stable

The Commercial Paper rating issue aggregating Rs 500cr has also been reaffirmed.

Sep 22, 2020 08:09 IST India Infoline News Service

Phillips Carbon Black Limited credit ratings of Bank facilities and Commercial Paper (CP) have been reaffirmed by CARE Ratings.

The long-term Bank facilities (Rs550cr) has been reaffirmed CARE AA- with stable outlook. Long-term Bank facilities (Rs1850cr) has been reaffirmed CARE AA- with stable outlook and Short-term as CARE Al+. Total facilities are Rs2400cr.

The Commercial Paper rating issue aggregating Rs 500cr has also been reaffirmed. CARE Al+ rating for Rs450cr and CARE A1+ for Rs50cr.

“The Rating Committee of Care Ratings Limited, after due consideration, has reviewed the ratings,” the company informed the exchanges on Monday. 

On Monday, shares of Phillips Carbon Black Ltd ended at Rs122.90, down by Rs3.5 or 2.77% from its previous closing of Rs126.40 on the BSE.

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