Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Gujarat Alkalies & Chemicals’ Long Term Bank Facilities worth Rs 349.57 crore (reduced from Rs 425.94 crore). The rating agency has also reaffirmed ‘A1+’ rating to the company’s Short Term Bank Facilities worth Rs 45 crore.
Further, CARE reaffirmed ‘A1+’ rating to the company’s Commercial Paper Issue for an amount aggregating to Rs 100 crore for a maturity not exceeding one year.
Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.
