Aditya Birla Nuvo gets highest credit rating for its proposed issue of non-convertible debentures

28th May, 2008

Aditya Birla Nuvo proposes to raise funds by issuance of secured non-convertible debentures (NCDs) aggregating to Rs 500 crore. The said NCDs will be repayable within a period not exceeding three years.

Credit Analysis & Research Ltd. (CARE) has assigned a "CARE AAA" [Triple A] rating to the proposed NCD issue.

As per SEBI (DIP) guidelines, 2000 the issuer company is required to obtain credit rating from at least one credit rating agency registered with the SEBI.