CARE Ratings reaffirms credit rating of Indiabulls Real Estate
By maintaining long term credit rating of AA- and short term credit rating of A1+, Indiabulls Real Estate is amongst the highest rated listed companies.
By Kailash Babar, ET Bureau |
MUMBAI: Ratings agency CARE Ratings has reaffirmed its A1+ (A One Plus) rating for Indiabulls Real Estate’s short-term debt, and its AA- (Double A Minus) rating for company’s long term debt, the developer said in a regulatory filing on the Bombay Stock Exchange.
By maintaining long term credit rating of AA- and short term credit rating of A1+, Indiabulls Real Estate is amongst the highest rated listed companies in the Indian real estate industry peer group, the company said.
“This reaffirmation of the credit rating is on the basis of the company’s strong delivery on operational and financial fundamentals, its execution track record, low gearing and robust plans going forward,” the company said in its filing.
By maintaining long term credit rating of AA- and short term credit rating of A1+, Indiabulls Real Estate is amongst the highest rated listed companies in the Indian real estate industry peer group, the company said.
“This reaffirmation of the credit rating is on the basis of the company’s strong delivery on operational and financial fundamentals, its execution track record, low gearing and robust plans going forward,” the company said in its filing.
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