ICRA Reaffirms Credit Rating Of Godrej Properties Limited
Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, announced reaffirmation of credit rating by ICRA. Credit Rating Limits for bank facilities have been reaffirmed at [ICRA]AA+/[ICRA]A1+ with an enhancement of Rs. 6,500 crore. 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. Rating for INR 2,000 Crore Commercial Paper (CP) reaffirmed at [ICRA]A1+. Instruments with [ICRA]A1+ rating are considered to have a very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk. Long–term rating for INR 4,000 crore NCD Borrowing Program reaffirmed at [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.
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