Persistent Systems Limited has received a credit rating of ‘Crisil AA+; Rating Watch with Developing Implications’ from CRISIL Ratings Limited for its proposed Non-Convertible Debentures worth ₹7,000 crore. This strong rating signifies a high degree of safety regarding the timely servicing of financial obligations and very low credit risk. The ‘Rating Watch with Developing Implications’ indicates an emerging situation that may affect the company’s credit profile.
CRISIL Ratings Assigns ‘AA+’ Rating to Persistent Systems’ Proposed Debentures
Persistent Systems Limited has been assigned a credit rating of ‘Crisil AA+; Rating Watch with Developing Implications’ by CRISIL Ratings Limited for its proposed Non-Convertible Debentures (NCDs). The total value of the proposed debt issuance is ₹7,000 crore.
Key Rating Details
The rating of ‘Crisil AA+’, pronounced as ‘Crisil double A plus’, indicates that securities with this rating are considered to have a high degree of safety regarding the timely servicing of financial obligations. Such securities carry very low credit risk. The inclusion of ‘Rating Watch with Developing Implications’ signifies an emerging situation that may impact the credit profile of the rated entity. CRISIL Ratings will disseminate this rating and outlook through its publications and other media, and will keep the rating under surveillance for the life of the instrument.
Persistent Systems Limited will be required to provide the International Securities Identification Number (ISIN) and other relevant details of the debt issuances made against this rating to CRISIL Ratings within two days after the allotment of the ISIN, as per SEBI regulations.
Source: BSE
