Credit rating agency, CARE has revised rating of UCAL Fuel Systems’ long term bank facilities worth Rs 170.49 crore to ‘BBB (Stable)’ from ‘BBB-’. Further, the rating agency has reaffirmed ‘A3’ ratings to company’s short-term bank facilities worth Rs 45 crore. The revision in the ratings assigned to the long-term bank facilities of UCAL Fuel Systems (UCAL) take into account the continuous improvement in leverage levels in the past three years ended March 2016 and improved financial performance during 9MFY’17 (refers to the period April 01 to December 31).
Furthermore, the ratings continue to derive strength from the experienced promoters and their established track record in the auto components business, UCAL’s strong presence in the two-wheeler (2W) carburetor segment, established engineering capabilities with integrated manufacturing set up and long standing relationship with major 2W and 4W automotive original equipment manufacturers (OEMs).
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 129.80 |
| Tube Investments | 3009.90 |
| Bosch | 37550.00 |
| UNO Minda | 1158.90 |
| CIE Automotive India | 470.25 |
| View more.. | |
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