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ICRA upgrades ratings of Kitex Garments’ bank facilities

07 Aug 2014 Evaluate

Credit rating agency ICRA has upgraded rating of Kitex Garments’ long term bank facilities worth Rs 167 crore to ‘A+’ from ‘A-’. The rating agency has also upgraded rating of the company’s short term bank facilities to ‘A1’ from ‘A2+’. Moreover, the outlook on the long term rating is stable.

Kitex Garments is the third largest manufacturer of clothes for infants and caters to the biggest international buyers such as Gerber, Jockey, Carters, Kohls and The Childrens Place.

 

Peers
Company Name CMP
Vardhman Textiles 560.35
Welspun Living 213.45
Arvind 544.45
Raymond Lifestyle 656.50
K.P.R. Mill 1112.50
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