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Bangalore, January 04, 2023: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), 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.
Highlights:
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
Rating Agency
Instrument
Amount
(Rs. in crore)
Ratings
Rating Actions
CRISIL Ratings Limited
Commercial Paper
1,750
CRISIL A1+
Reaffirmed/assigned the ratings for the enhanced limit of INR 1,750 crore from INR 1,500 crore
ICRA Limited
Long/Short Term -Fund-based/Non fund based
4,500
[ICRA]AA+(Stable)(long-term rating)
[ICRA]A1+(short-term rating)
Reaffirmed
Non-Convertible
Debenture Programme
1,000
[ICRA]AA+ (Stable)Reaffirmed
Commercial Paper
1,750
[ICRA]A1+Reaffirmed/assigned the ratings for the enhanced limit of INR 1,750 crore from INR 1,500 crore