Crisil assigns AA/Stable Rating for Finolex Industries' long term debt issue

Finolex Industries Ltd has announced that Crisil has, after due consideration, reaffirmed the "AA" rating for the Company's long term Non-Convertible Debenture issues of Rs 500 million and Rs 750 million and has revised the outlook to 'stable' from 'negative'. This rating indicates high degree of safety with regard to timely payment of interest and principal on the instrument.

Crisil has reaffirmed P1+ rating to the Company's Rs 1.1 Billion Short Term Debt Programme and has also assigned "AA/Stable" rating to the Company's Rs 1.5 Billion Long Term Debt Issue.

Source : Equity Bulls

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