CARE assigns ‘BBB’, ‘A3’ ratings to Hindoostan Mills’ bank facilities

Credit rating agency, CARE has assigned ‘BBB’ rating to Hindoostan Mills’ long term bank facilities Fund-based worth Rs 10 crore and Term loan worth Rs 29.30 crore. The rating agency has also assigned ‘A3’ rating to the company’s short term bank facilities worth Rs 0.70 crore.

The ratings assigned to the bank facilities of the company derive strength from the experience of the promoters in the Textile industry, partly integrated operations, moderate profitability margins and comfortable financial risk profile. 

Hindoostan Mills operates as a composite cotton textile mill having both spinning & weaving facilities and manufactures cotton woven greige fabrics of various qualities.