ICRA Archives - Square Feat India https://squarefeatindia.com/tag/icra/ Real Estate News Website Fri, 23 Jun 2023 06:40:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://squarefeatindia.com/wp-content/uploads/2019/12/squrefeatindia_favicon.png ICRA Archives - Square Feat India https://squarefeatindia.com/tag/icra/ 32 32 ICRA and CRISIL enhance Commercial Paper limits of Godrej Properties Limited to INR 2000 crore https://squarefeatindia.com/icra-and-crisil-enhance-commercial-paper-limits-of-godrej-properties-limited-to-inr-2000-crore/ Fri, 23 Jun 2023 06:40:49 +0000 https://squarefeatindia.com/?p=6428 Godrej Properties Ltd. announced the enhancement in the Commercial Paper (CP) limits…

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]]> Godrej Properties Ltd. announced the enhancement in the Commercial Paper (CP) limits to INR 2000 crore from INR 1750 crore by ICRA and CRISIL. Additionally, ICRA has assigned long-term rating of AA+(“stable”) for fresh Non-Convertible Debenture (NCD) of INR 2000 crore.

Highlights:

Credit Rating for Commercial Paper (CP) limits enhanced to INR 2,000 crore from INR 1,750 crore by ICRA and CRISIL. Ratings have been reaffirmed/assigned at [ICRA]A1+ and CRISIL A1+ respectively. Instruments with these ratings are considered to have a very strong degree of safety regarding the timely servicing of financial obligations. Such instruments carry the lowest credit risk.

Credit rating limits for bank facilities of INR 4,500 crore were reaffirmed at [ICRA]AA+/[ICRA]A1+. Outlook on the long-term rating is “Stable”. Instruments with this rating are considered to have a high degree of safety regarding the timely servicing of financial obligations. Such instruments carry very low credit risk.

Long-term rating for INR 1,000 crore Non-Convertible Debenture (NCD) borrowing program reaffirmed to [ICRA] AA+ and fresh NCD of INR 2,000 crore assigned to [ICRA] AA+. Outlook on the long-term rating is “Stable”. Instruments with this rating are considered to have a high degree of safety regarding the timely servicing of financial obligations. Such instruments carry very low credit risk.

Rating AgencyInstrumentAmount(Rs. in crore)RatingsRating Actions
CRISIL Ratings LimitedCommercial Paper2,000CRISIL A1+Reaffirmed/assigned the ratings for the enhanced limit of INR 2,000 crore from INR 1,750 crore
ICRA LimitedLong/Short Term -Fund-based/Non fund based 4,500[ICRA]AA+(Stable)(long-term rating) [ICRA]A1+(short-term rating)Reaffirmed
Non-ConvertibleDebenture Programme1,000[ICRA]AA+ (Stable)Reaffirmed
Fresh Non-ConvertibleDebenture Programme2,000[ICRA]AA+ (Stable)Assigned
Commercial Paper2,000[ICRA]A1+Reaffirmed/assigned the ratings for the enhanced limit of INR 2,000 crore from INR 1,750 crore

Also Read: Godrej Properties to acquire land for a luxury residential project in Kolkata

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]]> ICRA and CRISIL enhances Commercial Paper limits of Godrej Properties Limited to INR 1750 crore https://squarefeatindia.com/icra-and-crisil-enhances-commercial-paper-limits-of-godrej-properties-limited-to-inr-1750-crore/ Wed, 04 Jan 2023 05:30:09 +0000 https://squarefeatindia.com/?p=5912 Godrej Properties Ltd today announced the enhancement in the Commercial Paper(CP) limits…

The post ICRA and CRISIL enhances Commercial Paper limits of Godrej Properties Limited to INR 1750 crore appeared first on Square Feat India.

]]> Godrej Properties Ltd today announced the enhancement in the Commercial Paper(CP) limits to INR 1750 crore from INR 1500 crore by ICRA and CRISIL.

Highlights:

Credit Rating for Commercial Paper(CP) limits enhanced to INR 1,750 crore from INR 1,500 crore by ICRA and CRISIL. Ratings have been reaffirmed/assigned at [ICRA]A1+ and CRISIL A1+ respectively. Instruments with these rating are considered to have a very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk.

Credit rating limits for bank facilities of INR 4,500 crore reaffirmed at [ICRA]AA+/[ICRA]A1+. Outlook on the long-term rating is “Stable”. 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.

Long-term rating for INR 1,000 crore NCD borrowing program reaffirmed to [ICRA] AA+. Outlook on the long-term rating is “Stable”. 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.

Also Read: Godrej Properties enters Golf Course Road Extension in Gurugram

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