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.