Credit rating agency, CARE has revised the rating assigned to the long-term bank facilities of PAE for an enhanced amount. The agency has revised the rating from ‘CARE A-‘to ‘CARE BBB+’ and the amount is been enhanced from Rs 22.10 crore to Rs 30.00 crore.
The agency has also revised the rating assigned to the short-term bank facilities of the company for an enhanced amount. The agency has revised the rating from ‘PR1’ to ‘PR2+’ and the amount is been enhanced from Rs 0.40 crore to Rs 5.00 crore.
The ability of PAE to manage its working capital with increasing operations and retain its existing distributorships, remain key rating sensitivities. The ratings continue to derive strength from the comprehensive marketing and distribution network of PAE, exclusive distributorship rights for ‘Chloride’ brand of batteries, launch of its indigenous brands, favourable capital structure and comfortable debt coverage indicators.
PAE is currently engaged in marketing and distribution of automotive and motorcycle batteries, automotive parts, inverter and inverter batteries, power back-up devices and systems. Further, PAE also markets and installs solar products tailored for the Indian market manufactured by its subsidiary SEPL.
Company Name | CMP |
---|---|
Adani Enterprises | 3063.00 |
Redington | 218.95 |
Amrapali Industries | 14.11 |
Rashi Peripheral | 342.00 |
Compuage Infocom | 5.33 |
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