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CARE Ratings reaffirmed ratings for TVS Motor, including Rs 500 crore Commercial Paper and enhanced bank facilities

(20-Oct-26   19:37)

TVS Motor Company Ltd announced that CARE Ratings Limited has reaffirmed ratings on its various instruments, including a reaffirmation of CARE A1+ for Commercial Paper aggregating to Rs 500.00 crore with a maturity not exceeding one year, and reaffirmed CARE AAA; Stable for Long Term Bank Facilities enhanced from Rs 2,100.00 to Rs 3,241.65, Long Term/Short Term Bank Facilities enhanced from Rs 950.00 to Rs 1,008.35, Short Term Bank Facilities of Rs 608.00, and Non-Convertible Debentures totaling Rs 25.00, Rs 175.00, Rs 125.00, and Rs 675.00; CARE Ratings Limited has also withdrawn the rating for Short Term Instruments aggregating to Rs 1900.35, and withdrawn the rating for Non-convertible Redeemable Preference Shares (NCRPS) due to full redemption, while CARE Ratings Ltd. notes periodic surveillance/review of bank facilities and debt instruments, and indicates that some ratings are under review due to a lack of cooperation from the issuer; CareEdge Ratings provided a rating reflecting opinions as of a specific date, and CARE Ratings Ltd. also indicated a lack of cooperation for certain bank facilities.