CARE Ratings Updates Great Eastern Shipping Company Ltd's Debt Instruments
Great Eastern Shipping Company Ltd has received updated credit ratings from CARE Ratings Limited concerning its Non-Convertible Debentures (NCDs) and bank facilities. The ratings reflect changes across various debt instruments held by the company.According to the ratings update, several key financial instruments have seen adjustments in their rating status.
The relationship between the instruments, amounts, previous status, and current rating is detailed below:
| Instrument | Previous Amount (Rs. Crore) | Present Amount (Rs. Crore) | Previous Rating | Current Rating |
|---|---|---|---|---|
| Non-Convertible Debentures | 450.00 | - | CARE AAA; Stable | Withdrawal on full redemption |
| Debentures (NCDs) | 300 | 200 | CARE AAA; Stable | CARE AAA; Stable Reaffirmed |
| Debentures (NCDs) | 600.00 | 600.00 | CARE AAA; Stable | CARE AAA; Stable Reaffirmed |
| Long Term/ Short Term Bank Facilities | 50.00 | 50.00 | CARE AAA; Stable / CARE A1+ | CARE AAA; Stable / CARE A1+ Reaffirmed |
The ratings for the Debentures (NCDs) amounting to 300 crore saw a reduction in amount, now standing at 200 crore, with the rating being reaffirmed by CARE Ratings Limited. The remaining NCD instruments, along with the Long Term/Short Term Bank Facilities, maintained their respective AAA status and were reaffirmed.
GESHIP Stock Price Movement
On Thursday, The Great Eastern Shipping Company Limited shares settled slightly higher, successfully closing at ₹1499 after edging up 0.19%. Trading activity included a volume of 914,830 shares as the company completed its session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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