ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/bd16775eb9587fee92faa8987a190de8.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, announced receiving fresh ratings for proposed Non-Convertible Debenture (NCD) borrowing programmes from ICRA and India Ratings and Research Private Limited for INR 2,000 crore and INR 2,500 crore, respectively. Additionally, the long-term rating for existing bank facilities of INR 4,500 crore was reaffirmed at [ICRA]AA+/[ICRA]A1+ along with the existing NCD of INR 3,000 crore reaffirmed at [ICRA]AA+. The Commercial Paper (CP) limits of INR 2,000 crore was also reaffirmed at [ICRA]A1+.
Highlights:
Credit rating for fresh proposed NCD programme of INR 2,000 crore by ICRA has been assigned at [ICRA]AA+. Outlook on the long-term rating is "Stable". Instruments with this rating are considered to have a high degree of safety regarding the timely servicing of financial obligations. Such instruments carry very low credit risk.
Credit Rating for fresh proposed NCD programmes of INR 2,500 crore by India Ratings and Research (Ind-Ra) was assigned at IND AA+/Stable.
Long-term rating for existing bank facilities of INR 4,500 crore was reaffirmed at [ICRA]AA+/[ICRA]A1+ and existing NCD of INR 3,000 crore was assigned [ICRA]AA+. Outlook on the long-term rating is "Stable". Instruments with this rating are considered to have a high degree of safety regarding the timely servicing of financial obligations. Such instruments carry very low credit risk.
Short-term rating for the existing commercial paper (CP) programme of INR 2,000 crore was reaffirmed at [ICRA]A1+. Instruments with this rating are considered to have a very strong degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Max Financial Services Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Piyush Goyal24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HPCLLtd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/railway24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hero Motocorp Ltd 1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Signature Global 24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Startup_48.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IPO7.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IIM Bangalore24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MRF Ltd.jpg)