India Ratings & Research upgrades ratings of Sangam India’s bank facilities

Credit rating agency, India Ratings & Research has upgraded ratings of Sangam India’s bank facilities. The rating agency has upgraded long term rating to 'A+' from 'A-'. The rating agency has also upgraded short term rating to 'A1+' from 'A1'. The upgradation of ratings is reflective of company’s improving financials with outlook as stable.

Sangam India is among the top three producers of PV dyed yarn in India with total spindleage of 201,216 numbers. The company also has 30 million metres per annum (mmpa) ready-to-stitch fabric manufacturing capacity, a 52mmpa fabric processing capacity and 40mmpa denim fabric manufacturing capacity.