Credit rating agency, Credit Analysis & Research (CARE) has revised rating of BSL’s Long term bank facilities worth Rs 116.13 crore to ‘BBB’ from ‘BBB-’. The rating agency has also assigned 'A3' rating to company’s Short-term Bank Facilities worth Rs 109.50 crore.
The revision in the rating of long term bank facilities of BSL factors in the overall improvement in the financial risk profile of the company marked by growth in operations, better profitability, improved capital structure and shorter working capital cycle during FY14.
BSL is engaged in manufacturing of wide range of yarns and fabrics including woolen/worsted yarn, synthetics yarn, blended viscose fabrics, silk fabrics, furnishing and fashion fabrics. BSL markets its products under established brands such as BSL Suitings, Geoffrey Hammonds and La- Italia.
| Company Name | CMP |
|---|---|
| Siyaram Silk Mills | 544.60 |
| Manomay Tex India | 219.20 |
| BSL | 126.30 |
| VTM | 75.65 |
| Ludlow Jute &Special | 262.10 |
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