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As on 20-Oct-2026  19:37

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

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and Non-Convertible Debentures totaling Rs 25.00, Rs 175.00, Rs 125.00, and Rs 675.00; CARE Ratings Limited has also withdrawn the rating for Short Term Instruments aggregating to Rs 1900.35, and withdrawn the rating for Non-convertible Redeemable Preference Shares (NCRPS) due to full redemption, while CARE Ratings Ltd.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.