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Tata’s Trent raises Rs 100 crore to refinance repayments

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Tata group retail arm Trent has raised Rs 100 crore from the market by issuing commercial papers to refinance its upcoming repayments, PTI reported.
“The company has issued and allotted commercial paper of Rs 100 crore,” said Trent in a regulatory filing.
The proceeds will be primarily used to refinance the upcoming repayments, it added.
According to the company, Credit Analysis and Research Ltd (CARE Ratings) has assigned ‘CARE A1’ to the commercial papers.
According to a PTI report: The rating signifies very strong degree of safety with respect to timely payment of financial obligations.
“The instruments with rating CARE A1 are considered to have a strong degree of safety regarding timely payment of financial obligations,” said Trent.

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