CRISIL and ICRA increase Godrej Properties’ commercial paper limits to Rs 1,750 crore

4 Jan 2023 , 12:47 PM

Godrej Properties Limited announced that the credit rating agencies ICRA and CRISIL have enhanced the company’s Commercial Paper (CP) limits to Rs1,750 crore from Rs1,500 crore.

The rating agencies reaffirmed the Ratings at ICRA A1+ and CRISIL A1+. Instruments with these ratings indicate a very high level of safety in terms of timely payment of financial obligations. These instruments pose the lowest credit risk.

Credit rating limits for bank facilities worth Rs4,500 crore has been reaffirmed at ICRA AA+/ICRA A1+. Outlook on the long-term rating is Stable. Instruments with this rating are thought to have a high level of safety in terms of timely payment of financial obligations. These instruments carry low credit risk.

Long-term rating has been reaffirmed at ICRA AA+ for Rs1,000 crore NCD borrowing programme. Outlook on the long-term rating is reaffirmed as Stable.

At around 12.39 PM, Godrej Properties was trading at Rs1,214.65 apiece, against the previous close of Rs1,243.10 on NSE. The counter hit an intraday high and low of Rs1,246.35 and Rs1,208.25 respectively.

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