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Article: CRISIL assigns AA- to Diageo India's loan.
- Article from:
- ADP Debt News
- Article date:
- September 17, 2009
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(ADPnews) - Sep 17, 2009 - Indian credit rating agency CRISIL assigned yesterday a rating of AA- with a "stable" outlook to the INR 280 million (USD 5.8m/EUR 4m) proposed long-term bank loan facility of Diageo India Pvt Ltd.
The agency also assigned a rating of P1+ to the company's INR 750 million commercial paper (CP).
Simultaneously, it confirmed at AA- with a "stable" outlook the rating on the INR 1.21 billion cash credit and at P1+ on the INR 10 million letter of credit limit.
The ratings reflect the strong support Diageo India receives from its owner, UK alcoholic beverages company Diageo Plc (LON:DGE, rated A-/"stable"/A-2 by Standard & ...