Credit rating agency, CARE has reaffirmed ‘BBB+ (Stable)’ rating assigned to MetroGlobal’s long-term bank facilities worth Rs 25 crore. The rating agency has also reaffirmed ‘A2’ rating assigned to the company’s short-term bank facilities worth Rs 40 crore.
The ratings continue to derive strength from vast experience of the promoters of MetroGlobal (MGL) in chemical industry, large clientele in the trading business, comfortable capital structure and debt coverage indicators. The ratings also factor in MGL’s comfortable liquidity and steady income from various real estate projects wherein it has made substantial investments.
