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Credit Analysis & Research Ltd (CARE), the rating agency, has reaffirmed the 'CARE A1+ rating for Cox & Kings’ commercial papers and short-term bank facilities. Instruments with this rating indicate very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk. The rating agency has also reaffirmed the rating as 'CARE AA-' to the long-term bank facilities and issue of NCDs, indicating high degree of safety for timely servicing of debt obligations and carry very low credit risk. Shares of Cox & Kings closed at ₹321.5, down 2.4 per cent on the NSE.
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