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Ind-Ra upgrades ‘BB+’ rating to RTL’s Long-Term Issuer

05 May 2014 Evaluate

India Ratings & Research (Ind-Ra) has upgraded ‘BB+’ rating to Riba Textiles’ (RTL) Long-Term Issuer from ‘BB-’. The Outlook is Stable. The upgrade reflects RTL’s improvement in the revenue and operating profitability resulting in a sustained improvement in the net financial leverage.

Riba Textiles, a 100% Export Oriented Terry Towels manufacturing unit is situated 100 Kms from New Delhi in the state of Haryana.

Peers
Company Name CMP
Vardhman Textiles 577.60
Welspun Living 214.65
Arvind 552.40
Raymond Lifestyle 648.00
K.P.R. Mill 1141.30
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