Mumbai, Mar 21 (ANI/Business Wire India) Tech Mahindra Limited today announced that Credit Analysis and Research Limited (CARE) has assigned the highest rating of 'CARE AAA' [Triple A] / 'PR1+' [PR One Plus] for its short term / long-term borrowing program.
Further, CARE has also assigned 'CARE AAA' [Triple A] / 'PR1+' [PR One Plus] rating to the Bank Facilities of Tech Mahindra Limited.
The highest credit rating is testimony to the strong financial position of the Company.
Instruments/facilities with 'PR1+' [PR One Plus] rating would have strong capacity for timely payment of short-term debt obligations and carry lowest credit risk. Within this category, instruments/facilities with relatively better credit characteristics are assigned PR1+ rating.
This rating is applicable for instruments/facilities having tenure up to one year.
Instruments/facilities with 'CARE AAA' [Triple A] rating are considered to be of the best credit quality, offering highest safety for timely servicing of debt obligations. Such instruments/facilities carry minimal credit risk.
This rating is applicable for instruments/facilities having a tenure of over one year. (ANI)
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