Credit rating agency, CARE has reaffirmed ‘BBB- (Stable)’ rating to Indian Acrylics’ long-term bank facilities worth Rs 79.09 crore. The rating agency has also reaffirmed ‘A3’ rating to the company’s short-term bank facilities worth Rs 75 lakh.
The ratings assigned to the bank facilities of Indian Acrylics (IAL) derive strength from the long track record of operations, IAL’s experienced management team, resourceful promoters and satisfactory capital structure. The ratings further derive strength from the company’s diversified clientele, captive power generation capability and integrated manufacturing operations.
