ICRA withdraws credit rating of PVR's commercial papers; stock climbs ~3%

30 May 2022 , 10:52 AM

PVR Limited informed that the ICRA rating assigned to the Commercial Paper program of the company has been withdrawn by ICRA Limited as PVR does not have any outstanding Commercial Paper.

in accordance with ICRA’s policy on withdrawal and suspension, the rating is presented to the Rating Committee of ICRA prior to withdrawal. The rating has been reaffirmed by the Rating Committee of ICRA at ‘ICRA A1’ (pronounced as ICRA A one).

The rating agency further stated that there is no amount outstanding against the rated instrument, and the rating stands withdrawn.

PVR is currently trading at Rs1,845.20 up by Rs48.3 or 2.69% from its previous closing of Rs1,796.90 on the BSE. The scrip opened at Rs1,796.90 and has touched a high and low of Rs1,848.15 and Rs1,796.90 respectively.