MoneyWorks4Me

CARE upgrades ratings of Remi Elektrotechnik’s long term bank facilities

27 Jan 2015 Evaluate

Credit rating agency CARE has upgraded rating of Remi Elektrotechnik’s long term fund based bank facilities worth Rs 11.00 crore to ‘BBB’ from ‘BBB-’. The rating agency has also upgraded rating of the company’s Short term non-fund based bank facilities worth Rs 2.94 crore to ‘A3+’ from ‘A3’.

The company is engaged in manufacturing all types electric and geared motors, with well over 1.5 million motors approved in the market.

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