Credit rating agency, CARE has revised rating of Rainbow Papers’ long term bank facilities worth Rs 983.16 crore to ‘BBB’ from ‘BBB-’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 150.00 crore to ‘A3+’ from ‘A3’. The revision in the ratings takes into account improvement in the liquidity position of Rainbow Papers (RPL) on account of replacement of large portion of its rupee term debt with Export Performance Bank Guarantee (EPBG) upon receipt of export advance and reduction in cost of borrowings associated with EPBG.
Rainbow Papers is one of the fastest growing corporations in the Indian paper industry. The company offers a plethora of world class products ranging from duplex to file board, from writing paper to art card and from packaging and electric grade crepe to decorative tissues crepe, have given them a good recognition amongst their users whose thirst for better and new products.
