Ind Ra assigns Crompton Greaves Consumer Electricals' credit rating at 'AA+/Stable'

16 Sep 2022 , 10:46 AM

India Ratings and Research (Ind-Ra) has assigned Crompton Greaves Consumer Electricals Limited (CGCEL) a Long-Term Issuer Rating of ‘IND AA+’. The Outlook is Stable. Similarly, the short-term ratings affirmed at ‘IND A1+’.

Further, the commercial paper worth Rs1200 crore also affirmed at IND A1+.

According to the rating rationale report, Ind-Ra continues to take a consolidated view of CGCEL and its wholly-owned subsidiaries while arriving at the ratings due to strong operational and strategic linkages among them. 

At around 10:48 AM, Crompton Greaves Consumer Electricals Ltd is currently trading at Rs403.50 per share down by Rs0.6 or 0.15% from its previous closing of Rs404.10 per share on the BSE.

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