Credit rating agency, CARE has upgraded ratings assigned to Trident’s Long term Bank Facilities from ‘A-’ to ‘A’ worth Rs 2,334.85 crore and ‘A1’ from ‘A2+’ rating assigned to company’s Short term Bank Facilities worth Rs 350 crore. The rating agency has also revised rating of company’s Long-term/Short-term Bank Facilities worth Rs 1200 crore from ‘A-/ A2+’ to ‘A/ A1’.
The revision in ratings assigned to the business performance reflected in its increasing profitability, healthy adequate liquidity and improvement in its debt coverage parameters.
Trident is the largest terry towel and wheat straw based paper manufacturer in the world.
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