ICRA Limited has re-affirmed the credit rating of Prestige Estates Projects Limited for its existing commercial papers. The rating remains at ‘[ICRA] A1’. This rating indicates a high degree of certainty regarding the timely payment of financial obligations. The company has made this information available on its website and has asked its stakeholders to note this update.
Credit Rating Maintained
Prestige Estates Projects Limited has announced that ICRA Limited has re-affirmed the company’s credit rating for its commercial paper. The credit rating continues to be ‘[ICRA] A1’.
Implication of the Rating
The ‘[ICRA] A1’ rating indicates that Prestige Estates Projects Limited has a strong capacity to meet its financial commitments related to the commercial papers. This reflects the company’s stable financial position and its ability to manage short-term obligations. The information is accessible on the company’s official website.
Source: BSE
