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Article: CARE confirms PR1 rating on Alok's CP.
- Article from:
- ADP Debt News
- Article date:
- August 28, 2009
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(ADPnews) - Aug 28, 2009 - Indian Credit Analysis & Research (CARE) said yesterday it confirmed at PR1 the rating on the INR 10 billion (USD 205m/EUR 143m) commercial paper of local textile company Alok Industries Ltd (BOM:521070).
The CP carved out of sanctioned working capital facility of the company.
This rating is applicable for facilities having tenure up to one year. Facilities/Instruments with this rating would have strong capacity for timely payment of short-term debt obligations and carry lowest credit risk. Within this category, facilities with relatively better credit characteristics are assigned PR1+ rating.
The ratings factor in ...