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ICRA reaffirms ratings of Winsome Textile’s bank facilities

18 Nov 2014 Evaluate
Credit rating agency, ICRA has reaffirmed the long term rating of ‘BB+’ assigned to Rs 315.31 crore fund based and Rs 6.10 crore non-fund based bank limits of Winsome Textile Industries (WTIL). The outlook on the long term rating is Stable. The rating agency has also reaffirmed the short term rating of ‘A4+’ assigned to Rs 100.75 crore fund based and Rs 90.84 crore non-fund based bank limits of the company. The long term fund based limits can also be availed as short term fund based limits to the extent of Rs 71.80 crore for which the short term rating will be applicable.

The rating reaffirmation continues to take into account the consistent satisfactory operational performance of the company with the spinning unit which contributes to most of the revenues of the company operating at more than 90% capacity utilization, given the WTIL’s established track record in the spinning business.

Winsome Textile Industries’ principal activity is to manufacture yarn. It manufactures cotton yarn containing 85% or more cotton, containing less than 85% cotton, synthetic staple fibre yarn containing 85% or more of acrylic.


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