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Article: CARE rates Gitanjali Gems NCDs at A+.
- Article from:
- ADP Debt News
- Article date:
- August 20, 2009
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(ADPnews) - Aug 19, 2009 - Indian Credit Analysis & Research (CARE) said it assigned a CARE A+ rating to the proposed long-term secured non-convertible debenture (NCD) issue of Mumbai-based integrated diamond and jewellery manufacturer and retailer Gitanjali Gems Ltd (BOM:532715), or GGL.
The NCDs amount to INR 1.5 billion (USD 30.8m/EUR 21.7m).
Instruments with this rating are considered to offer adequate safety for the timely servicing of debt obligations. Such instruments carry a low credit risk.
CARE assigns "+" or "-" signs to be shown after the assigned rating, wherever necessary, to indicate the relative position of the company within ...