Credit rating agency, Credit Analysis & Research (CARE) has reaffirmed the ratings assigned to bank facilities of Gujarat Alkalies and Chemicals (GACL). The credit rating agency has reaffirmed ‘AA’ rating assigned for Long Term Facilities of Rs 345.69 crore (reduced from Rs 383.33 crore).
The agency has also reaffirmed ‘A1+’ rating for Short Term Facilities of Rs 45.00 crore; and ‘A1+’ rating for Short Term Debt / Commercial Paper Issue for an amount aggregating to Rs 100 crore for a maturity not exceeding one year.
Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.
