Jubilant Industries' commercial paper worth Rs40 crore receives ‘A1' ratings by ‘Ind-Ra'; stock surges ~2%

21 Apr 2022 , 03:08 PM

Jubilant Industries Limited announced that India Ratings and Research Private Limited, a Fitch Group Company, vide its letter dated April 20, 2022, has affirmed and assigned credit ratings for the financial facilities of Jubilant Agri and Consumer Products Limited, a Wholly-owned material non-listed subsidiary of Jubilant Industries.

Jubilant Agri’s Long-term issuer rating for Long-term loans worth Rs97.90 crore is reaffirmed at ‘Ind A/Stable’. While Fund-based working capital worth Rs95 crore has given ‘Ind A1/Stable’ ratings.

The rating agency also reaffirmed the credit rating of non fund-based working capital limits worth Rs235 crore at ‘Ind A1/Stable’
Its short-term issuer rating for newly added commercial papers worth Rs40 crore is assigned at ‘Ind A1’.

Jubilant Industries is currently trading at Rs496.75 up by Rs7.3 or 1.49% from its previous closing of Rs489.45 on the BSE. Its scrip has touched intraday high and low of Rs503.25 and Rs492.55 respectively.