Credit rating agency, CARE has revised rating of Skipper’s long term bank facilities worth Rs 341.63 crore to ‘A+’ from ‘A-’. The rating agency has also revised rating of company’s long/short-term bank facilities worth Rs 960.00 crore to 'A+/A1’ from ‘A-/A2’.
The revision in the ratings assigned to the bank facilities of the company takes into account better than expected improvement in profitability & capital structure in FY15 and Q1FY16, and increasing order book position in domestic & export markets.
Skipper is engaged in structural fabrication and manufacturing of mild steel and galvanized iron pipes, steel tubular poles, scaffolding and accessories and PVC pipes. Structural fabrication is the major contributor to the revenue of the company.
