JK Lakshmi Cement gets ratings upgrade for Bank borrowings & proposed NCD issue

From CARE

JK Lakshmi Cement announced that based on the consistent good Operating & Financial performance together with strong key financial ratios and a healthy Balance Sheet, Credit Analysis & Research (CARE) has upgraded the rating for the Company's Long Term Banking facilities as well as the existing and the proposed NCD Issue of Rs. 200 crore from the earlier assigned rating of AA- (Double A Minus) to AA (Double A).

The rating for Short Term Bank Borrowings of Rs. 350 crore and Commercial Paper Program of Rs. 120 crore continues to be highest possible rating of CARE A1+ (A One Plus).

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