CARE revises outlook of Piramal Enterprises' Long-term instruments to ‘Stable'

6 Jul 2022 , 03:29 PM

Piramal Enterprises Limited informed that the rating agency CARE Limited has reaffirmed the ratings assigned to the company’s bank facilities.

CARE has reaffirmed the long-term rating at ‘CARE AA’, and has revised the Outlook to ‘Stable’ from the existing ‘Credit under watch with developing implications.’

Further, the rating agency has withdrawn the credit rating assigned to Short Term Non-Convertible Debentures as there is no outstanding amount against the said instrument.

Short Term Bank Facilities, Short Term Instruments, Inter Corporate Deposit, and Commercial Papers have been assigned a ‘CARE A1+’ rating.

While company’s Non-Convertible Debentures’ rating has been reaffirmed at ‘CARE AA’ with a ‘Stable’ revised outlook.

Furthermore, Market Linked Debentures of the company were given a ‘CARE PP-MLD AA’ rating with a Stable outlook.

At around 3.30 PM, Piramal Enterprises was trading at Rs1,710 up by Rs14.25 or 0.84% from its previous closing of Rs1,695.75 on the BSE. The scrip touched day’s high and low of Rs1,715 and Rs1,681.80 respectively.