Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Blue Star’s long term bank facilities worth Rs 50.00 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 1,010.00 crore. The rating agency has also reaffirmed ‘A1+’ rating to company’s Commercial Paper worth Rs 400 crore.
The ratings continue to factor in Blue Star’s (BSL) proven track record and dominant market position in the central air-conditioning and cooling products business, reputed client base, pan-India presence with a wide marketing and dealers network. The ratings also factor in improvement in debt coverage indicators in FY14 (refers to the period April 1 to March 31) on the back of revival of operating margins in the Cooling Product segment
Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers. The company has six manufacturing facilities located at Thane, Bharuch, Dadra, Himachal and Wada.
