Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has disclosed its credit ratings received from CRISIL Ratings. A new Non-Convertible Debenture (NCD) of INR 500 Crore has been assigned Crisil AAA/Stable rating, while all existing NCDs totaling over INR 5,800 Crore have been reaffirmed at Crisil AAA/Stable. The Corporate Credit Rating and Commercial Paper programme of INR 2,500 Crore (Crisil A1+) have also been reaffirmed. Crisil AAA is the highest investment-grade rating, indicating the strongest capacity to meet debt obligations.
Reaffirmation of the top-tier AAA rating with Stable outlook reinforces investor confidence in Mindspace REIT's debt quality and financial stability. The new INR 500 Crore NCD at AAA suggests the REIT can raise debt at the most favourable rates, generally positive for unitholders though it adds incremental debt.