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.