Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Long-term bank facilities of Cords Cable Industries and ‘A3’ rating to Short -term bank facilities of the company. This is pursuant to review of recent developments, including operational and financial performance of the company by the rating agency during FY 14 and Q1 FY 15.
As per the rating rational, the ratings continue to derive strength from the experience of the promoters in the cable industry, long track record of operations of Cords Cable Industries (CCIL), established position in the control and instrumentation market with diversified and reputed clientele, stable operating margins and moderate capital structure.
Also, the ability of CCIL to achieve growth in the sales and profitability and effective execution of order book shall be the key rating sensitivities.
Cords Cable Industries is in the business of providing cost-effective and quality solutions for various electrical connectivity requirements.
