Puravankara clarification on rating

Our Bureau Chennai | Updated on July 10, 2020 Published on July 10, 2020

Puravankara on Friday clarified about its earlier message on credit rating by ICRA. It informed the exchanges that the rating committee of ICRA has reaffirmed the previous rating and assigned a long-term rating of [ICRA] BBB+ and outlook has been revised to stable from positive and has maintained the previous short-term rating of [ICRA] A2 for ₹3,000 crore bank facilities. Earlier in the filing made on July 8, it had 'inadvertently' mentioned that the outlook was revised from stable to positive. Shares of Puravankara closed 4.11 per cent lower at ₹43.20.

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Published on July 10, 2020
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