From CARE
Cox & Kings announced that Credit Analysis & Research (CARE), the Rating Agency, has reaffirmed and enhanced the Commercial Paper issue carried out of sanctioned working capital limit of the Company from the existing Rs. 750 crore to Rs. 895 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 bank facilities of the Company from existing Rs. 874 crore to Rs. 1019 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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