Credit rating agency, ICRA has reaffirmed ‘AA+’/stable rating to Titan Company’s Fund Based Facilities worth Rs 200 crore and 'A1+' rating to company's Non-Fund Based Facilities worth Rs 1000 crore. The rating agency has also reaffirmed ‘MAAA’/ stable rating to the Fixed Deposit Programme worth Rs 800 crore. The outlook on the long and medium term ratings is stable.
The rating reaffirmation continues to factor in the company’s leadership in the organised watches and jewellery segments drawing on the high quality of its products, the wide product range catering to various styles and price points and the extensive distribution and service network.
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.
