Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Andhra Cements’ long term bank facilities worth Rs 877 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 50 crore.
Andhra Cements, incorporated on December 9, 1936 is engaged in manufacturing and selling of cement. The Goenka Group took over the company in 1995. The two cement plants, located in Vishakapatnam and Dachepalli have a combined installed capacity of 1.4 million tonne (MT) per annum.