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CRISIL assigns A1+ rating for Solar Industries commercial paper programme

The company stock ended lower amid a rating announcement on the Rs50cr CP programme.

November 16, 2021 3:55 IST | India Infoline News Service
CRISIL Ratings Limited has assigned CRISIL A1+ rating for the Commercial Paper progamme of Solar Industries India Limited amounting to Rs50cr.

“For the purpose of issuance of the commercial paper programme, this letter is valid for 30 calendar days from the date of the letter.

In the event of your company not placing the above instrument within this period, or in the event of any change in the size/structure of your proposed issue, the rating shall have to be reviewed and a letter of revalidation shall have to be issued to you. Once the instrument is issued, the above rating is valid (unless revised) throughout the life of the commercial paper programme with a maximum maturity of one year,” company shared CRISIL’s statement.

Solar Industries India Limited ended at Rs2675.20 per piece down Rs12.95 or 0.48% on the BSE.

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