Credit rating agency, ICRA has upgraded ratings of NCL Industries’ term loan of Rs 112.90 crore and working capital facilities of Rs 75 crore to ‘B+’ from ‘D’. The rating agency has also upgraded rating of the company’s non fund based limit of Rs 5 crore to ‘A4’ from ‘D’. Further, ICRA has revised rating of the company’s fixed deposit programme to ‘MB+’ from MD.
NCL Group of companies manufactures a range of building materials. The objective of the Group is ‘to provide comfortable housing at an affordable price’. The group also has interests in construction, power generation and manufacture of chemicals.
