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Cox & Kings gets reaffirmation in credit ratings for bank facilities

Capital Market 

From CARE c

Cox & Kings announced that Credit Analysis & Research (CARE), the Rating Agency, has reaffirmed and enhanced the Commercial Paper issue carved out of sanctioned working capital limit of the Company from the existing Rs. 1040 crore to Rs. 1082 crore. The Rating has been reaffirmed as CARE A1+ (A One Plus). Instruments with this rating indicate very strong capacity for timely payment of financial obligations and carry lowest credit risk.

CARE has also reaffirmed and enhanced the long term facilities of the Company from existing Rs. 1164 crore to Rs. 1206 crore. The Rating has been reaffirmed as CARE AA (Double A). Instruments with this rating indicate high safety for timely servicing of debt obligations and carry very low credit risk.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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