Credit rating agency, ICRA, an associate of Moody’s Investors Service, has upgraded the rating of the captioned Line of Credit (LOC) of Remsons Industries for Rs 18.70 crore (revised from Rs 19.70 crore). The credit rating agency has upgraded the Long Term Rating of the captioned LOC to ‘BBB’ from ‘BBB-‘ and the outlook for the long term rating is ‘Stable’.
The Short Term Rating has been upgraded to ‘A3+’ from ‘A3’. The aforesaid ratings are valid till July 24, 2015.
Remsons Industries is engaged in the manufacture of cables, flexible shafts, gear shift systems, push pull cables and park brake mechanisms. The company’s manufacturing units are located at Kandivli, Gurgaon and Daman.
