Credit Rating Agency, ICRA has upgraded the rating assigned to Gulf Oil Lubricants India, a Hinduja Group Company. The credit rating agency has upgraded the long-term rating from ‘A’ to ‘A+’ and the short-term rating from ‘A1’ to ‘A1+’ assigned to the fund based limits and non-fund based limits of the company aggregating to Rs 392.00 crore enhanced from Rs 345.00 crore. The outlook on the long-term rating is stable.
The agency has also withdrawn the long-term rating assigned to Rs 15.00 crore term loans of the company, as there is no amount outstanding against the same. This up-gradation in the long term and short term ratings reflects the company’s consistent healthy cash accruals generated in the business which has led to strong debt coverage metrics and comfortable capital structure and liquidity position for the company.
Gulf Oil Lubricants India, is one of the leading private sector players in the lubricant industry & currently the fastest growing lubricant marketer in India.
Company Name | CMP |
---|---|
Castrol India | 203.85 |
Savita Oil Tech | 520.00 |
Gulf Oil Lubricant | 964.95 |
Gandhar Oil Refinery | 213.60 |
Panama Petrochem | 398.00 |
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