CARE assigns PR1 Rating to Raipur Alloys' short term debt programme

Raipur Alloys & Steel Ltd has announced that M/s. Credit Analysis & Research Ltd (CARE) has assigned "PR1" (PR One) rating to the Company's proposed issue of Short Term Debt for a period of one year of Rs 25 Crores.

The proposed issue of Short Term Debt of Rs 25 Crores by Chhattisgarh Electricity Company Ltd (the Company being merged into this Company) has also been assigned "PR1" (PR One) rating.

The rating symbolizes as under:

"Instruments with this rating would have strong capacity for timely payment of short-term debt obligations and carry lowest credit risk. Within this category, instruments with relatively better credit characteristics are assigned PR1+ rating."

Source : Equity Bulls

Keywords