The Great Eastern Shipping Company Limited has informed the Exchange about Credit Rating
GESHIP · price
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Awaiting price reaction for this filing.
Brickwork Ratings has reaffirmed the BWR AAA/Stable rating on GE Shipping's Non-Convertible Debentures (NCDs) of Rs. 1,050 crore, the highest investment grade indicating the lowest credit risk. Separately, the rating on Rs. 700 crore of NCDs has been withdrawn following their full redemption, bringing outstanding NCDs down from Rs. 1,750 crore to Rs. 1,050 crore. The rating is supported by GE Shipping's 75+ year track record, diversified fleet of 40 vessels and 23 offshore assets, strong FY25 consolidated EBITDA of Rs. 2,637 crore, and a net debt-negative balance sheet with cash and equivalents of Rs. 5,437 crore as of September 2025. Key risks include exposure to volatile charter rates, crude prices, and forex fluctuations.
Positive for shareholders — the AAA reaffirmation signals the strongest credit quality and low borrowing costs, while the Rs. 700 crore NCD redemption reduces interest outflow and reflects the company's robust cash position. The Stable outlook suggests no near-term rating changes, supporting continued investor confidence.