ICRA reaffirms credit rating of Godrej Properties Limited

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced reaffirmation of credit rating by ICRA.

Highlights:

Credit Rating Limits for bank facilities have been reaffirmed at [ICRA]AA+/[ICRA]A1+ with an enhancement of Rs. 6,500 crore. 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.

Rating for INR 2,000 Crore Commercial Paper (CP) reaffirmed at [ICRA]A1+. Instruments with [ICRA]A1+ rating are considered to have a very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk.

Long-term rating for INR 4,000 crore NCD Borrowing Program reaffirmed at [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.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2303.30 as compared to the previous close of Rs. 2283.35. The total number of shares traded during the day was 5675 in over 586 trades.

The stock hit an intraday high of Rs. 2322.80 and intraday low of 2283.85. The net turnover during the day was Rs. 13068058.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 CreditRating Update Reaffirmed