ICRA and CRISIL enhances Commercial Paper limits of Godrej Properties Limited to INR 1750 crore

Biznextindia : Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, today announced the enhancement in the Commercial Paper(CP) limits to INR 1750 crore from INR 1500 crore by ICRA and CRISIL.

Credit Rating for Commercial Paper(CP) limits enhanced to INR 1,750 crore from INR 1,500 crore by ICRA and CRISIL. Ratings have been reaffirmed/assigned at [ICRA]A1+ and CRISIL A1+ respectively. Instruments with these rating are considered to have a very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk. Credit rating limits for bank facilities of INR 4,500 crore reaffirmed at [ICRA]AA+/[ICRA]A1+. Outlook on the long-term rating is “Stable”. Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. Long-term rating for INR 1,000 crore NCD borrowing program reaffirmed to [ICRA] AA+. Outlook on the long-term rating is “Stable”. Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk