CRISIL reaffirms AAA rating on BASF India’s NCDs

The ratings on the Fixed Deposits and Commercial Paper have been reaffirmed at ‘FAAA/Stable’ and ‘CRISIL A1+’, respectively.

Sep 25, 2020 10:09 IST India Infoline News Service

BASF India
BASF India Limited informed the exchanges Thursday that CRISIL has reviewed the rating on Rs20cr Non-Convertible Debentures of the company. CRISIL has reaffirmed rating at ‘CRISIL AAA’ and assigned ‘Negative’ outlook.

“The instruments with “CRISIL AAA” rating are considered to have the highest degree of safety regarding timely servicing of the financial obligations and carry lowest credit risk,” company said.

The ratings on the Fixed Deposits and Commercial Paper have been reaffirmed at ‘FAAA/Stable’ and ‘CRISIL A1+’, respectively.

CRISIL’s Commercial Paper ratings are in addition to the credit rating of “IND A1+” awarded to the Company by India Ratings and Research Private Limited (A Fitch Group Company) for Commercial Paper programme of Rs750cr.

BASF India Ltd is currently trading at Rs1,400.05, up by Rs12.7 or 0.92% from its previous closing of Rs1,387.35 on the BSE.

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