Mee
PRESS RELEASE
FOR IMMEDIATE PUBLICATION
29% January, 2015
COX & KINGS LTD CREDIT RATING UPGRADED
Cox & Kings Ltd has been upgraded by Credit Analysis é Research Ltd (CARE), the Rating
Agency. CARE has upgraded the rating of Long Term Bank Facilities and issue of Non
Convertible Debentures of the Company to CARE AA (Double A) from the exiting ‘CARE
AA- (Double A Minus)’. Instruments with this rating indicate high degree of safety for
timely servicing of debt obligations and carry very low credit risk,
CARE, has enhanced the Commercial Paper issue (carved out) of the Company from the
existing Rs. 375 Crores to Rs. 450 Crores, The rating to the Commercial Paper issue has been
reaffirmed to the highest short term rating, ‘CARE A1+ (A One Plus), Instruments with this
rating indicate very strong degree of safety regarding timely payment of financial
obligations and carry lowest credit risk.
This upgradation in the long term rating and re-affirmation of the short term rating
reflects the Company's consistent growth track record & well established brand strengths,