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Thursday, July 05, 2001
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Garden Reach Shipbuilders rating reaffirmed

The P1 plus rating assigned to the Rs. 25 crore short term debt programme of Garden Reach Shipbuilders and Engineers (GRSE) has been reaffirmed.

The rating reflects GRSE's ownership by the Government, its strategic role as a supplier of warships to the Indian Navy and the expected sustenance of the business and financial support by the Navy. The rating also reflects GRSE's comfortable order book position, favourable financial position and strong liquidity position.

- Corporate Bureau

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