ICRA places Tata Coffee's long-term ratings under watch; stock jumps ~1%
India Infoline News Service |
07 Apr, 2022 |
In its regulatory filing, Tata Coffee Limited informed that ICRA Limited vide its letter dated April 5, 2022, has reaffirmed the short-term rating and placed the long-term rating under watch with positive implications.
ICRAâ€™s fund-based bank facilities worth Rs150 crore were previously rated â€˜AA+/Stableâ€™ by the rating agency. However, it has been informed that such Long Term Rating has been placed under watch with positive implications.
While commercial paper worth Rs30 crore (short-term) has been assigned â€˜A1+â€™ ratings by ICRA, as previously assigned. Total bank facilities under review stood at Rs180 crore.
Tata Coffeeâ€™s stock was trading 0.91% higher at Rs222.90 per piece against the previous close of Rs220.90. It touched intraday high and low of Rs225.60 and Rs220.50 respectively.