ICRA enhances Godrej Properties' rated bank limit to Rs4,500 crore

19 Sep 2022 , 10:40 AM

Godrej Properties Ltd. (GPL) has announced the enhancement in the rated bank limits to Rs4,500 from Rs2,500 crore by ICRA.

According to the rating rationale report, Credit Rating Limits for bank facilities enhanced to Rs4,500 crore from Rs2,500. Rating reaffirmed at [ICRA]AA+/[ICRA]A1+. Outlook on the long-term rating is “Stable”. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Rating for Rs1,500 Crore Commercial Paper (CP) reaffirmed at [ICRA]A1+. Instruments with [ICRA]A1+ rating are considered to have very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk.

Long —term rating for Rs1,000 crore NCD Borrowing Program reaffirmed at [ICRA]AA+. Outlook on the long-term rating is “Stable”. Similarly, instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

On Monday at around 10:43 AM, Godrej Properties Ltd is currently trading at Rs1,333.95 per share up by Rs0.85 or 0.06% from its previous closing of Rs1,333.10 per share on the BSE.

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