CRISIL assigns ‘A1+’ rating to Siyaram Silk Mills’ Commercial Paper

Credit rating agency, CRISIL has assigned ‘A1+’ rating to Siyaram Silk Mills’ Commercial Paper (CP) instrument of Rs 25 crore. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instrument carries lowest credit risk.

Moreover, the rating agency has reaffirmed long term rating of ‘A+/Positive’ and short term rating credit rating of ‘A1+’ for the company’s Bank Loan Facilities of Rs 227.69 crore.

The company is one of the most renowned vertically integrated textile companies in the country. It operates the widest range of latest machinery in its eco-friendly plant at Tarapur, Daman and Mumbai.