CARE assigns AA Rating for Birla Corporation long term borrowing programme

Birla Corporation Ltd has announced that Credit Analysis and Research Ltd (CARE) has assigned "CARE AA" (Double A) rating to the Company for Long Term Borrowing Programme of Rs 25 crores. This rating is considered to offer high safety for timely servicing of debt obligations and indicates very low credit risk.

Further the Company has informed that, in addition, the rating Committee of CARE has reaffirmed the PR 1 + (PR one plus) rating for the Company's Commercial Paper Programme upto Rs 20 crores for a maturity upto three months. The PR 1 + rating indicates strong capacity for timely payment of short term debt obligations and carry lowest credit risk.

Source : Equity Bulls

Keywords