Ceat credit ratings affirmed and assigned by India Ratings

Ceat Limited announced today that India Ratings and Research has provided credit ratings for its various debt instruments. The rating for the commercial paper with amount of INR500.00 Crores was affirmed as IND A1+, as well as for non-convertible debentures with amount of INR250.00 Crores, as IND AA/Positive. The rating for the term loan of INR527.00 Crores (reduced from INR864.00 Crores) was also affirmed as IND AA/Positive. Additionally, a rating of IND AA/Positive was assigned to the proposed term loan of INR1,000.00 Crores, and the commercial paper** rating of IND A1+ was assigned for amount of INR500.00 Crores.