Credit rating agency, CARE has reaffirmed ‘A-’ rating to International Conveyors’ long term bank facilities worth Rs 38.35 crore and ‘A2+’ rating to company’s Short term Bank Facilities worth Rs 2.88 crore. The rating agency has also reaffirmed ‘A-/ A2+’ rating to company’s Long/Short term Bank Facilities worth Rs 304.30 crore.
The ratings take into account the experience of the promoters with long track & satisfactory record of operation, operating in a niche segment with few competitors in the domestic segment, demonstrated ability to develop and sustain strong client relationship, and satisfactory financial risk profile in FY14 & H1FY15 (refers to the period April 1 to March 31).
International Conveyors is engaged in manufacturing and marketing of solid woven fabric reinforced PVC impregnated and PVC covered fire retardant, anti static conveyor belting.
