CARE reaffirms ratings assigned to bank facilities of Gujarat Alkalies and Chemicals

Credit rating agency, CARE has reaffirmed ‘A1+’ rating assigned to Gujarat Alkalies and Chemicals’ short-term bank facilities worth Rs 45 crore and ‘AA+’ rating assigned to company’s long-term bank facilities worth Rs 425.94 crore (reduced from 481.43 crore).

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.