Gujarat State Fertilizers & Chemicals Ltd. announced reaffirmations and assignments of credit ratings across multiple instruments by CARE Ratings Limited and CareEdge Ratings. CARE Ratings Limited reaffirmed its CARE AA+; Stable rating for the company’s Long Term Bank facilities amounting to Rs.300 crore, reaffirmed its CARE AI+ rating for Short Term Bank facilities totaling Rs.4,100 crore, and reaffirmed its CARE AI+ rating for Commercial Paper of Rs.1,000 crore; additionally, CARE Ratings assigned a CARE AAA rating with a Stable outlook to long-term bank loans of INR 500 crore and a CARE A1+ rating to Commercial Paper of INR 100 crore. CareEdge Ratings provided a rating reflecting opinions as on the date of the rating for bank facilities/instruments, with an outlook of Stable, while noting no rating data was found for other agencies.
