ICRA reaffirms credit ratings of Tube Investments of India

The long-term rating has been removed from the watch with developing implications and a 'Stable' outlook has been assigned.

Nov 25, 2021 11:11 IST India Infoline News Service

Tube Investment
ICRA Limited has reaffirmed the long-term rating at AA+ and the short-term rating at A1+ in respect of the bank fund-based and non-fund-based limits of Tube Investments of India Limited.

The long-term rating has been removed from the watch with developing implications and a 'Stable' outlook has been assigned.

The credit rating agency has also reaffirmed the short-term rating to the company’s commercial paper programme at ICRA A1+.

At around 11.16 am, Tube Investments of India Ltd was trading at Rs1,693.40 per piece down by Rs12.05 or 0.71% from its previous closing of Rs1,705.45 per piece on the BSE.

The company also informed in a separate filing on Wednesday that in terms of the Shares Subscription Agreement executed between the company and Aerostrovilos Energy Private Limited (AEPL), the Board of Directors of AEPL has on November 24, 2021 allotted 4,151 equity shares of the face value of Rs10/- each, fully paid up, to the company representing 25% of AEPL’s paid up share capital.

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