Credit rating agency, CARE has reaffirmed the assigned ‘BBB-‘rating to the long-term bank facilities of Ucal Fuel systems for Rs 165.42 crore. The rating continues to derive strength from the experience of the promoters of the company and their established track record in the auto components business.
Further, the rating also takes into account the turnaround in performance of the loss making subsidiary, Amtec Precision Components and improvement in the company’s financial performance.
Ucal Fuel Systems (Ucal) was established as a Joint Venture between Chennai based Carburetors and Mikuni Corporation of Japan. The company is in the business of providing holistic solutions in fuel management systems and is committed to producing products of consistent quality and timely delivery. Ucal is an OEM supplier to major automobile manufacturers like Maruti Suzuki, Hyundai, Hero Honda, TVS Motor, Bajaj Auto and Yamaha.
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