Mumbai, 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 |
