India Ratings Affirms Ceigall India Ltd's Bank Facilities at INDAA-/Stable; Rates Commercial Paper Program at INDA1+
India Ratings & Research has provided credit ratings for the facilities of Ceigall India Limited (CIL), including long-term bank loan facilities and a commercial paper program. The agency confirmed the rating for CIL’s bank loans, simultaneously assigning a rating to its new debt instruments.According to the rating report, which details the company's financial health as reflected in these facilities, the long-term bank loans were affirmed at INDAA-/Stable/INDA1+. This reaffirmation includes a revision of the outlook on the bank facilities to Stable.
The key details concerning CIL’s bank loan facilities are presented below:
| Instrument Type | Size Issue (million) | Rating Assigned along with Watch/Outlook | Rating Action |
|---|---|---|---|
| Bank loan facilities | INR 30,700 | INDAA-/Stable/INDA1+ | Affirmed; Outlook revised to Stable |
In addition to the affirmed bank loan rating, India Ratings also rated CIL’s commercial paper program. The agency assigned a rating of INDA1+ for this issuance.
The details of the Commercial Paper program are as follows:
| Instrument Type | Maturity Date | Size of Issue (million) | Rating Assigned along with Watch/Outlook | Rating Action |
|---|---|---|---|---|
| Commercial paper 0-365 days | Commercial paper 0-365 days | INR 1,000 | INDA1+ | Assigned |
The agency notes that the Commercial Paper (CP) has been carved out from CIL's working capital limits and will be used by the company to meet its working capital requirements.
CEIGALL Stock Price Movement
Shares of Ceigall India Limited are climbing towards ₹369.95 as of 10:37 AM, rising 1.04% in live trading. The stock has seen brisk activity so far today, with 135,504 shares traded and the equity maintaining strength above the intraday low of ₹366.25.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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