ICRA assigns 'ICRA AA+' rating to Ramco Cements' NCD programme
The agency has affirmed the AA+ (stable) rating and outlook for The Ramco Cements' proposed issuance of Secured Redeemable Non-convertible debentures of Rs300cr.
December 16, 2020 1:34 IST India Infoline News Service
The Rating Committee of ICRA, after due consideration, has assigned IICRMAA+ (pronounced ICRA double A plus) rating to the captioned NCD Programme. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations.Such instruments carry very low credit risk. The modifier + (plus) appended to the rating symbol, indicates its relative position within the rating category. The outlook on the long-term rating is Stable.
The agency has affirmed the AA+ (stable) rating and outlook for The Ramco Cements' proposed issuance of Secured Redeemable Non-convertible debentures of Rs300cr.
The company's stock was trading higher at Rs853 per peice up by Rs4.30 from its previous closing on the BSE, at around 1.46pm.
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