CARE Reaffirms Ratings for KEI Industries Ltd: Long Term Bank Facilities Rated AA+
CARE Ratings Limited has reaffirmed the credit ratings for KEI Industries Ltd, covering both its long-term bank facilities and short-term instruments, following a review of the company's operational and financial performance.The rating agency assigned CARE AA+ to the Company’s Long Term Bank Facilities. This classification signifies that these instruments are considered to have a high degree of safety regarding the timely servicing of financial obligations and carry very low credit risk.
In addition, KEI Industries Ltd received a rating of CARE A1+ for Short Term Bank Facilities and Commercial Paper. The A1+ rating indicates that these instruments possess a very strong degree of safety concerning the timely payment of financial obligations and represent the lowest credit risk category.
The ratings provide insight into KEI Industries Ltd's debt profile across different instrument types:
| Instrument Type | Rating / Outlook | Definition Summary |
|---|---|---|
| Long Term Bank Facilities | CARE AA+; Stable | Instruments are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. |
| Short Term Bank Facilities/ Commercial Paper | CARE A1+ | Instruments are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk. |
Furthermore, the rating committee reviewed the specific Commercial Paper (CP) issue aggregating ₹30.00 crore. For this instrument, the agency reaffirmed the rating at CARE A1+. This CP issue is noted to be for a maturity not exceeding one year.
KEI Stock Price Movement
KEI Industries Limited shares slipped on Thursday, shedding ₹158.00 or 2.92% to close at ₹5268, missing the previous close of ₹5419. The stock traded down across a significant volume of 574,864 shares during the trading 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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