Credit rating agency, CARE has revised the rating assigned to the long-term bank facilities of K.P.R Mill. The agency has revised the rating from ‘A-‘ to ‘A+’ for an enhanced amount of Rs 891.44 crore. The agency has also revised the assigned ‘A2+’ rating to ‘A1+’ to the short-term bank facilities of the company for an enhanced amount of Rs 218.38 crore.
Maintaining overall margins in light of the operating environment characterized by volatile cotton prices and poor power supply situation in Tamil Nadu and optimal utilization of expanded capacity would be key rating sensitivities.
KPR is a vertically integrated apparel company with International accreditations for quality control, environmental standards and social accountability, is a leading manufacturer of readymade knitted apparel, cotton knitted fabric and yarn in India having manufacturing facilities located at Coimbatore, Sathyamangalam, and Tirupur in Tamilnadu, South India.
| Company Name | CMP |
|---|---|
| Welspun Living | 125.45 |
| Vardhman Textiles | 557.75 |
| Arvind | 387.20 |
| K.P.R. Mill | 926.40 |
| Page Industries | 37935.70 |
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