Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Everest Kanto Cylinder’s long term fund based bank facilities worth Rs 150.19 crore to ‘C’ from ‘BB+’. The rating agency has also revised rating of the company’s short term non-fund based facilities worth Rs 60.92 crore to ‘A4’ from ‘A4+’.
Everest Kanto Cylinder is engaged in the business of manufacturing industrial and CNG cylinders. The company has production capacity of 500,000 cylinders on an annual basis. EKC’s Dubai plant manufactures cylinders ranging from 1 to 280 liters water capacity and working pressure from150-400 bar (Test Pressure up to 650 bar).
