CARE reaffirms ‘AA’ rating assigned to long term facilities of GACL

30 Jan 2012

Credit rating agency, Credit Analysis & Research (CARE) has reaffirmed the assigned ‘AA’ rating for long term facilities of Rs 310.77 crore for tenure of more than one year of Gujarat Alkalies and Chemicals (GACL). It has also reaffirmed ‘A1+’ rating assigned to short term facilities of Rs 45.00 crore for tenure up to one year.

Further, the agency has reaffirmed ‘A1+’ rating assigned to commercial paper / short term debt issue for an amount aggregating to Rs 100 crore for a maturity not exceeding one year of the company.

Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.

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