Credit rating agency, CARE has revised the assigned rating from BB+ to BB for long-term bank facilities worth Rs 15.00 crore of Camex, which was enhanced from Rs 11.50 crore. The rating agency has also revised the assigned rating from A4+ to A4 for short-term bank facilities worth Rs 26.50 crore which was enhanced from Rs 17.50 crore of the company.
The company has received the said rating revision on account of the decline in its trading volume apart from deterioration in leverage on the back of increasing working capital intensity of its operations.
Camex is mainly engaged in the trading of dyes and intermediates and also has its own dye manufacturing facility at Ankleshwar in Gujarat with an installed capacity of 1,020 metric tonne per annum as on March 31, 2011.
Company Name | CMP |
---|---|
Sudarshan Chemicals | 835.85 |
Bodal Chemicals | 73.14 |
Shree Pushkar Chem | 183.80 |
Kiri Industries | 325.25 |
Bhageria Industries | 166.90 |
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