Announced Fri, 26 Jun · 11:56 IST
CARE Ratings reaffirms AAA rating on Great Eastern Shipping NCDs and bank facilities
GESHIP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.1%1-day move
₹1500.00
prior close
₹1495.10
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-1.4-2.6-2.2-1.3-1.1-5.5-5.3-3.9-5.9-8.3-7.4———
Up moveDown movePending
AI summary
CARE Ratings has reaffirmed CARE AAA; Stable rating on Great Eastern Shipping non-convertible debentures of Rs 600 crore and Rs 200 crore (reduced from Rs 300 crore). A Rs 450 crore NCD tranche was withdrawn on full redemption. Long term and short term bank facilities of Rs 50 crore also reaffirmed at CARE AAA; Stable and CARE A1+. AAA is the highest investment grade rating.
Likely market impact
Highest AAA rating reaffirmed shows strong financial health. Net debt reduction of around Rs 250 crore signals deleveraging, which is positive for shareholders.