CARE reaffirms ratings of Bengal Tea & Fabrics’ bank facilities

Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Bengal Tea & Fabrics’ long-term bank facilities worth Rs 98.01 crore. The rating agency has also reaffirmed ‘A3+’ rating to the company’s short-term bank facilities worth Rs 8.5 crore. The ratings of Bengal Tea & Fabrics (BTFL) continue to factor in the vast experience of its promoter, presence in diverse businesses of textile and tea, stable performance of tea division with stable demand scenario and stable improvement in its capital structure.

In Tea division, BTFL owns three tea estates having plantation area of 626 hectares located in upper Assam. It produces around 15 lakh kg tea per annum out of its own plantation area and around 7 lakh kg tea is produced from procuring green tea leaves from the market. The company processes the Green Tea leaves at a plant located at Ananda Tea Estate and sells Black tea.