Credit rating agency, CARE has revised ratings to bank facilities of Star Paper Mills. The credit rating agency has revised ‘BB+’ rating to the company’s long term bank facilities amounting Rs 19 crore. The credit rating agency has also revised ‘A4+’ rating to the company’s short term bank facilities amounting Rs 10 crore.
The revision in ratings of the company is on account of financial turnaround of the company in FY15 after continued losses in the past four years and sustained profitability in Q1FY16.
Star Paper Mills produces a wide range of Industrial, Packaging and Cultural Papers catering to almost all segments of the market. The company sells its paper under ‘Star Brand’ with a distribution network throughout the country besides exporting products to neighboring countries.
Company Name | CMP |
---|---|
JK Paper | 384.00 |
TN Newsprints | 249.85 |
West Coast Paper | 592.25 |
Emami Paper Mills | 110.35 |
Andhra Paper | 499.30 |
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