India Ratings and Research (Ind-Ra) has assigned Prism Cement’s (PCL) Rs 200 crore commercial paper (CP) programme an ‘A1’ rating. The company will use the CP proceeds for its working capital requirements.
Ind-Ra has taken a consolidated view of PCL and its subsidiaries for the ratings. In FY14, the company’s cement division was stressed with EBITDA margins of 4.6% due to lower profits in the first three quarters.
Prism Cement is one of India’s leading integrated building materials companies; with a wide range from cement, ready-mixed concrete, tiles, bath products to kitchens.
