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05-Jun2017

ICRA reaffirms Issuer rating of 'AA-' to Shipping Corporation of India

Credit rating agency, ICRA has reaffirmed the Issuer rating of 'AA-' assigned to Shipping Corporation of India (SCI). The rating agency has also reaffirmed the short-term rating of 'A1+' assigned to the Rs 1,000 crore short-term debt programme of the company. The outlook on the long-term rating is Stable.

The reaffirmation of ratings continues to reflect the company's long track record in the shipping business, long and established relationships with major PSUs, its strong competitive position in the domestic market backed by a sizeable and diversified fleet and marked improvement in the age profile of the vessels which leads to operational efficiencies and lower operational costs.

Shipping Corporation of India (SCI) is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organizations.


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