Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Sree Sakthi Paper Mills’ long term bank facilities worth Rs 18.01 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 31.50 crore. The rating agency has also reaffirmed ‘BBB-/ A3’ rating to company’s Long-term/Short-term bank facilities worth Rs 10.50 crore.
The ratings continue to derive strength from the established and long operational track record of the company, vast experience of the promoters in the paper industry, experienced management team and moderate gearing levels.
Sree Sakthi Paper Mills is a Kochi-based (Kerala) public company engaged in manufacturing of Kraft Paper and Duplex Board. SSPML belongs to ‘Sree Kailas’ group which has diversified business interests including paper manufacturing, logistics, construction and infrastructure. As on September 30, 2014 the company had an installed capacity of 81,150 Tonnes Per Annum (TPA) at Edayar for Kraft paper and 22,000 TPA at Chalakudy for Duplex board.
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