Credit rating agency, CARE has reaffirmed ‘A1+’ rating to Deepak Fertilisers and Petrochemicals Corporation’s Commercial Paper (CP) issue worth Rs 500 crore. The rating assigned to the long-term instruments continues to be CARE AA (under Credit Watch).
The rating continues to draw comfort from the leading market position of the company in the industrial chemicals segment namely Technical Ammonium Nitrate (TAN) and ISO Propyl Alcohol (IPA), diversified product portfolio and a healthy capital structure.
Deepak Fertilisers and Petrochemicals Corporation is one of the leading manufacturers of industrials chemicals and fertilizers in India. The company operates in three business segments – Chemicals, Fertilizers and Realty.