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| Exchange Received Time 26/03/2018 13:39:53 Exchange Disseminated Time 26/03/2018 13:40:00 Time Taken 00:00:07 | CARE Ratings Limited (CARE), has :
a) Upgraded rating for Short term Loan of Rs.42 Crores from the 'CARE A1' [A One] to CARE A1+ [A One Plus]. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk. Modifier {'+'} reflects the comparative standing within the category.
b) Reaffirmed rating for Rs. 196.36 Crores (Rs. 120 Crores working capital loan+ Rs. 76.36 Crores term loan) as 'CARE A+' Stable (Single A Plus, Outlook : Stable). Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. A Stable outlook would indicate expected stability (or retention) of the credit ratings in the medium term on account of stable credit risk profile of the entity in the medium term.
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