Credit rating agency, CARE has assigned ‘A-‘rating to the long-term bank facilities of Vinati Organics for Rs 91.16 crore. The agency has also assigned ‘A2+’ rating to the short-term bank facilities of the company for Rs 69.00 crore.
The company’s ability to sustain its growth with new products or variants of existing products in a profitable manner and to successfully implement and stabilize the ongoing capacity expansion programme without any significant cost or time over-runs are the key rating sensitivities.
Vinati Organics is a specialty chemical company producing organic intermediates, monomers and polymers. Vinati is the world’s largest manufacturer of Isobutylbenzene (IBB), the basic raw material in manufacture of Ibuprofen, with a capacity of 14,000 TPA. It is also the world’s second largest manufacturer of 2-Acrylamido-2-Methyl Propane Sulfonic Acid (ATBS), with a capacity of 12,000 TPA.
