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As on : 09-Oct-2026
Hot Pursuit
09-Oct-2026     14:54

Automobile Corporation of Goa’s credit ratings reaffirmed by CARE Ratings, supported by Tata Motors linkages

Automobile Corporation Of Goa Ltd announced reaffirmations and assignments of credit ratings from multiple agencies, including CARE Ratings Limited and CareEdge Ratings. CARE Ratings Limited reaffirmed its CARE AA-; Stable rating for the Fund-based - LT-Cash Credit instrument and CARE A1+ rating for the Non-fund-based - ST-BG/LC instrument, alongside reaffirming the CARE A1+ rating for Commercial Papers, Structured Credit, and Corporate Bonds and Debentures. CARE Ratings Ltd. assigned a CARE AA-; Stable / CARE A1+ rating to bank facilities amounting to Rs 8.00 crore and reaffirmed the CARE AA-; Stable / CARE A1+ rating for bank facilities totaling Rs 32.00 crore, enhancing the latter from a previous limit of Rs 5.00 crore, while CareEdge Ratings assigned a Stable outlook to the facilities, supported by strong operational and managerial linkages with Tata Motors Limited (TML), and expects the company’s capital structure to remain strong in the near-to-medium term; the rating of Tata Capital Limited (formerly TMFL), a parent entity, stands at AAA; Stable, and certain Customer Bill Discounting Facilities totaling Rs 9.52 crore are classified as short-term borrowings until settlement by TML, alongside a dividend declaration of Rs 16.74 crore, representing approximately 24% of profit after tax.

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