Credit rating agency, India Ratings & Research (Ind-Ra) has upgraded Raj Rayon Industries’ Long-Term Issuer Rating to ‘B+’ from ‘D’. The outlook is stable. The upgrade reflects the successful implementation of the company’s corporate debt restructuring (CDR) programme on March 27, 2014.
Raj Rayon Industries is one of the leading manufacturers of polyester yarn in India with product range including polyester texturised yarn, partially oriented yarn and fully drawn yarn, backed by high technology plants located at Silvassa in the Union Territory of Dadra & Nagar Haveli, India.
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