ICRA revises ratings of Dynamatic Technologies’ bank facilities

Credit rating agency, ICRA has revised the rating outstanding on the Rs 128.21 crore term loan facilities and the Rs 69.50 crore fund based facilities of Dynamatic Technologies from LBBB+ to LBBB. The rating agency has also revised the rating outstanding on the Rs 71.50 crore non-fund based facilities of the company from A2 to A3+.  The outlook on the long-term rating is stable.

The revision in ratings reflect the sharp rise in debt levels and the consequent increase in gearing, following the company’s recent acquisition of a German automotive component manufacturer, Eisenwerke Erla GmbH.

Dynamatic Technologies is engaged in the activity of manufacturing hydraulic gear pumps. It is also engaged in manufacturing a variety of advanced hydraulic valves, hydraulic pumping units, custom-made hydraulic solutions, marine power packs, turnkey industrial instrumentation, and complicated aircraft ground-support systems.