Avenue Supermarts Limited has announced that ICRA Limited has reaffirmed its credit rating for the company’s commercial paper program. The enhanced limit for the commercial paper program is now Rs. 1,300 crores, an increase from the previous limit of Rs. 800 crores. The rating assigned is ICRA A1+, signifying the highest level of credit quality and the reaffirmation of this rating for the increased limit.
Credit Rating Reaffirmed and Enhanced
Avenue Supermarts Limited has received positive credit rating news from ICRA Limited. The rating agency has reaffirmed the credit rating for the company’s Commercial Paper program and concurrently enhanced its limit. This action underscores the company’s strong financial health and creditworthiness in the market.
Key Rating Details
The Commercial Paper limit has been increased to Rs. 1,300 crores, up from the prior limit of Rs. 800 crores. The rating assigned by ICRA is ICRA A1+, which is the highest rating for short-term debt instruments. This reaffirms ICRA’s confidence in Avenue Supermarts’ ability to meet its short-term obligations.
A copy of the rating letter received from ICRA Limited has been enclosed for reference. This enhancement signifies sustained investor confidence and improved access to short-term funding for Avenue Supermarts.
Source: BSE
