CEAT Limited — Credit Ratings, 04-07-2025: Credit Rating

India Ratings and Research has affirmed CEAT Limited’s credit ratings, maintaining IND AA with a Positive outlook on its non-convertible debentures and term loans, and IND A1+ on commercial paper. Notably, the rating on the term loan reflects a reduction in outstanding from Rs. 864 Cr to Rs. 527 Cr, while a new proposed term loan of Rs. 1,000 Cr and fresh commercial paper of Rs. 500 Cr have been assigned ratings aligning with existing instruments. The Positive outlook signals stable financial health and improving credit metrics. This affirmation supports favorable borrowing costs and strengthens investor confidence, providing CEAT greater financial flexibility for future operations.