Credit rating agency, Credit Analysis & Research (CARE) has reaffirmed ‘AA+’ rating to Gujarat Alkalies and Chemicals’ long term bank facilities worth Rs 481.43 crore (enhanced from Rs 345.69 crore). The rating agency has also reaffirmed ‘A1+’ rating to the company’s short term bank facilities worth Rs 45 crore.
Further, CARE has reaffirmed ‘A1+’ rating to the company’s short term debt / commercial paper issue for an amount aggregating to Rs 100 crore for a maturity not exceeding one year.
Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.
