Titan Company Limited has informed the Exchange about Credit Rating
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ICRA has withdrawn the credit rating for Titan Company Limited's Commercial Paper (CP) programme of Rs. 2,500 crore at the company's request. The previous rating was [ICRA]A1+, the highest short-term rating. The withdrawal occurred because all rated CPs have been fully redeemed and no amount is outstanding. Titan's other ratings remain unchanged: Fixed Deposit Programme of Rs. 6,200 crore at [ICRA]AAA (Stable), Fund-based/Non-fund based facilities of Rs. 7,305 crore at [ICRA]AAA (Stable)/[ICRA]A1+, and Term Loans of Rs. 1,000 crore at [ICRA]AAA (Stable). Titan continues to hold the highest investment-grade ratings across all its remaining debt instruments.
This is a routine, positive development — Titan has fully repaid its short-term commercial paper borrowings, reducing its outstanding debt, while retaining the top-tier AAA/A1+ ratings on all other facilities. Shareholders should view this as a sign of strong liquidity and financial discipline with no negative implications for the stock.