Credit rating CARE has reaffirmed BBB+ rating to Rs 648.43 crore long term bank facilities of Nitco. The rating agency has also reaffirmed A2 rating to Rs 633.07 crore short term bank facilities of the company.
The ratings continue to derive strength from the established track record of the company, strong brand name and wide distribution network. The ratings also take cognizance of sequential improvement in the operational performance during FY11 and 9mFY12 and successful completion of capital expenditure programme in FY11 (refers to the period April 1 to March 31).
Nitco is engaged in the manufacture of flooring tiles in India. Previously known as Nitco Tiles, the company is one of the largest manufacturers of flooring tiles in India.
Company Name | CMP |
---|---|
Kajaria Ceramics | 1163.75 |
Somany Ceramics | 625.15 |
Cera Sanitaryware | 7130.00 |
Asian Granito India | 58.20 |
Pokarna | 470.90 |
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