Rating firm CARE has assigned CARE A+ ratings to long term bank facilities and the non-convertible debenture issue of Raheja-owned retail chain Shoppers Stop, indicating adequate safety for timely servicing of debt.
The ratings were assigned on the Rs 291 crore long term bank facilities and the non-convertible debenture issue of Rs 100 crore of Shoppers Stop. Its short term bank facilites of Rs 40 crore has been assigned PR1 Plus rating, which indicates strong capacity to repay short term obligations of the borrower.