Brigade Enterprises has received an assignment of credit rating for its Commercial Paper and reaffirmation of long-term and short-term credit ratings from ICRA Limited. The Commercial Paper is rated [ICRA] A1+, while the long-term and short-term facilities are rated [ICRA]AA(Stable) and [ICRA] A1+, respectively. These ratings reflect ICRA’s assessment of Brigade’s creditworthiness for its various financial facilities.
ICRA Assigns Rating to Commercial Paper
ICRA Limited has assigned a credit rating of [ICRA] A1+ to Brigade Enterprises’ Commercial Paper, which amounts to ₹200.00 crores. This rating indicates a high degree of safety regarding the timely payment of financial obligations. The assignment of this rating demonstrates ICRA’s confidence in Brigade Enterprises’ ability to meet its short-term financial commitments.
Long Term Rating Reaffirmed
In addition to the new rating, ICRA Limited has reaffirmed the long-term credit rating of [ICRA]AA(Stable) for the company’s fund-based term loan facilities. This facility totals ₹2423.00 crores. The stable outlook indicates ICRA’s expectation that Brigade Enterprises will maintain a consistent credit profile over the medium term.
Short Term Rating Reaffirmed
The short-term credit rating for Brigade Enterprises’ fund-based cash credit and overdraft facilities, amounting to ₹350.00 crores, has also been reaffirmed at [ICRA] A1+. This reaffirms ICRA’s positive assessment of Brigade’s ability to manage its short-term liquidity and working capital requirements.
Unallocated Limits
ICRA Limited has also reaffirmed the [ICRA]AA(Stable) rating for the company’s long-term unallocated limits, which amount to ₹227.00 crores. This rating signifies ICRA’s continued confidence in Brigade Enterprises’ financial stability and long-term prospects.
Source: BSE
