Credit rating agency, Fitch Ratings has affirmed the ‘BBB+ (ind)’ rating to India Glycols' national long-term rating. The credit rating agency has also revised the company’s debt outlook to positive from stable.
The outlook revision reflects India Glycols’ improved credit metrics on the back of strong revenue growth and consistent improvement in operating profitability.
India Glycols (IGL) is engaged in the business of manufacturing glycols, ethoxylates and PEGs, performance chemicals, glycol ether and acetates, guar gum and potable alcohol. Promoted by Vam Organics, the company was incorporated under the name as UP Glycols.
