Ind Ra affirms CEAT long-term issuer rating at 'IND AA/Stable'

Ind-Ra continues to take a consolidated view of CEAT and its subsidiaries on account of the strong operational and legal linkages among them.

Sep 27, 2021 12:09 IST India Infoline News Service

India Ratings and Research (Ind-Ra) has affirmed CEAT Limited’s Long-Term Issuer Rating at ‘IND AA’. The Outlook is Stable.

Further, ratings on Commercial Paper affirmed at IND A1+.

According to the Rationale, Ind-Ra continues to take a consolidated view of CEAT and its subsidiaries on account of the strong operational and legal linkages among them.

Ind Ra expects a substantial expansion in the scale of operations, along with a leadership position in two or more segments, leading to a significant improvement in the operating margins and a large positive FCF, on a sustained basis, would be positive for the ratings.

At around 12:37 PM, CEAT was trading at Rs1,327.85 apiece up by Rs9.15 or 0.69% on the BSE.

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