Credit Analysis & Research (CARE) assigned 'AA-' ratings to Century Textiles and Industries' long term non convertible debentures of Rs 1 billion.

CTIL has proposed to raise up to Rs 1 billion through long-term Non-Convertible Debenture (NCD) issue.

The proceeds of the NCD issue are proposed to be utilized towards general corporate purpose including repayment of existing debts.

The NCDs would have tenure of 18 months with bullet repayment at the end of the 18th month from the date of issue.

Shares of the company gained Rs 1, or 0.33%, to settle at Rs 306. The total volume of shares traded was 271,478 at the BSE (Monday).