Credit rating agency, CARE has assigned ‘BBB- (stable)’ rating to Vijay Solvex’s long-term bank facilities worth Rs 55 crore. The rating agency has also assigned ‘A3’ rating to company’s short-term bank facilities worth Rs 45 crore.
The ratings assigned to the bank facilities of Vijay Solvex (VSL) derive strength from wide experience of the promoters in edible oil industry along with synergies derived from operational linkages among group entities and favorable demand outlook for edible oil. The ratings further draw strength from strategic location of processing units with close proximity to raw material source and moderate capital structure and debt coverage indicators along with moderate liquidity position.
