From CARE
Cox & Kings announced that Credit Analysis & Research (CARE), the Rating Agency, has reaffirmed the rating as 'CARE A1+ (A One Plus)' of Commercial Papers and short term bank facilities of the Company.CARE has also enhanced the standalone Commercial Paper issue of the Company from the existing Rs. 275 crore to Rs. 375 crore. Instruments with this rating indicate very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.
CARE has also reaffirmed the rating as 'CARE AA- (Double A Minus)' to the long term bank facilities and issue of Non-Convertible Debentures of the Company. Instruments with this rating indicate high degree of safety for timely servicing of debt obligations and carry very low credit risk.
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