Transport Corporation - CRISIL rating
Transport Corporation of India Ltd (TCI) has informed BSE that CRISIL, one of the leading rating agency, has assigned following Ratings for the overall ban facilities enjoyed by TCI vide its letter dated March 25, 2008.
1. Facility: Cash Credit (Long term)
- Rated amount: Rs 140.00 Crores
- Rating: A+/Stable
- Remarks of Rating Safety: Adequate safety. This rating offers an adequate degree of safely with regard to timely payment of financial obligations. +(plus) & -(minus) signs reflect comparative standing within the category and Stable rating outlook indicates the direction in which a rating may move over a medium term horizon of one or two years.
2. Facility: Term Loan (long Term)
- Rated amount: Rs 118.20 Crores
- Rating: A+/Stable
- Remarks of Rating Safety: Adequate safety. This rating offers an adequate degree of safely with regard to timely payment of financial obligations. +(plus) & -(minus) signs reflect comparative standing within the category and Stable rating outlook indicates the direction in which a rating may move over a medium term horizon of one or two years.
3. Facility: Bank Guarantee (Short term)
- Rated amount: Rs 15.00 Crores
- Rating: P1+
- Remarks of Rating Safety: Very strong safety. This rating indicates that the degree of safety regarding timely payment on the instrument is very strong. +(plus) sign reflect a
comparatively high standing within the category.
The above Ratings reflect TCI’s sound financials, leading market position in the logistics business, its extensive infrastructure and diversified revenue base, which will enable the Company to also avail long-term loans at cheaper / competitive rates.
Tags: Transport Corporation