Credit rating agency, India Research and Rating has upgraded rating of Omax Autos’ Long term issuer and RS 70.9 crore term loans (reduced from Rs 90.0 crore) to ‘A’ from ‘BBB+; Outlook Stable’. The rating agency also upgraded the rating of Rs 39.0 crore fund based working capital limits (reduced from Rs 61.25 crore) to ‘A/Stable/A1’ from ‘BBB+/ Stable/A2+’.
The rating agency also upgraded the rating of Rs 25.00 crore fund based working capital limits (increased from Rs 24.5 crore) to ‘A1’ from ‘A2+’.
Omax Autos is an India-based manufacturer of auto and non-auto components. The company offers frame assembly, step pavilion, saree guard, saree guard assembly, handle, main stand and other products for two wheelers.
