Rating Committee of CARE has reaffirmed the ' A' rating assigned to the long term bank facilities of Pennar Industries. This rating is applicable to facilities having tenure of more than one year. Instruments with 'A' rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
Further, CARE has also reaffirmed the 'A1' rating assigned to the short term bank facilities of the company. This rating is applicable to facilities having a tenure upto one year. Instruments with 'A1' rating are considered to have very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.
Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).
