GMR Airports: CARE Ratings Assigns 'CARE A; Stable / CARE A1' to ₹500 Crore Bank Facilities
CARE Ratings Limited assigned 'CARE A; Stable / CARE A1' to GMR Airports Limited's Long Term/Short Term Bank Facilities worth ₹500 crore. The agency also reaffirmed these ratings for existing facilities and the 'CARE A; Stable' rating for Non-Convertible Bonds.
Updated credit ratings can influence investor confidence and the company's ability to raise further debt on favorable terms.
Positive credit ratings indicate financial stability and strength, which is favorable for the company.
GMR Airports Limited (formerly GMR Airports Infrastructure Limited) has received updated credit ratings from CARE Ratings Limited.
The rating agency has assigned its ratings for Long Term Bank Facilities / Short Term Bank Facilities at 'CARE A; Stable / CARE A1' for an amount of ₹500 crore.
Furthermore, CARE Ratings Limited has reaffirmed the 'CARE A; Stable / CARE A1' rating for the Long Term / Short Term Bank Facilities already availed by the company. The rating for Non-Convertible Bonds issued by the company has also been reaffirmed as 'CARE A; Stable'.
The letters issued by CARE Ratings are available on the company's website.
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GMR AIRPORTS LIMITED filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by GMR AIRPORTS LIMITED. Read the original for the full detail.