Ind-Ra assigns ‘IND AA' rating to Ceat Limited's NCDs worth Rs150 crore; stock marginally up

13 Sep 2022 , 03:25 PM

India Ratings & Research (Ind-Ra) has affirmed the ‘IND AA’ ratings to CEAT Limited’s bank facilities. Further, it has also assigned an ‘IND AA’ rating to its proposed NCDs worth Rs150 crore.

Ind-Ra has affirmed a Stable outlook on such facilities.

Bank facilities reviewed by Ind-Ra include term loans worth Rs2,391 crore, and non-convertible debentures worth Rs250 crore.

As per the company, the rating on its commercial paper worth Rs500 crore has been affirmed at ‘IND A1+’.

At around 3.23 PM, Ceat Limited was trading 0.51% higher at Rs1,395.25 per piece, against the previous close of Rs1,388.15 on NSE. So far, it hit an intraday high and low of Rs1,398.80 and Rs1,376.25 respectively.

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