CRISIL reaffirms credit ratings of Coromandel International, revises outlook to Positive from Stable; Stock up 1.5%

The rating on long-term facilities was reaffirmed at CRISIL AA+. On commercial paper and short-term bank facilities A1+ rating was reaffirmed.

Jul 14, 2021 09:07 IST India Infoline News Service

Coromandel International
CRISIL Limited has reaffirmed their rating for the debt programme of Coromandel International Limited with the outlook for long-term bank loan facilities revised from Stable to Positive.

The rating on Commercial Paper Rs2,000cr was reaffirmed at CRISIL A1+. The rating on total bank loan facilities Rs7,000cr was also reaffirmed. The rating on long-term facilities remained CRISIL AA+ with outlook changing to Positive from the previous Stable. The short-term rating has been also reaffirmed at CRISIL A1+.

At around 9.40 AM, Coromandel International Ltd was trading at Rs890.10 per piece up by Rs13.4 or 1.53% from its previous closing of Rs876.70 per piece on the BSE.

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