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CARE revises ratings of TNPL’s bank facilities

07 Oct 2017 Evaluate

The credit rating agency, CARE has revised rating of Tamil Nadu Newsprint and Papers’ (TNPL) Long Term Bank Facilities worth Rs 1944.85 crore to ‘A/Stable’ from ‘A+’ and Long/Short Term Bank Facilities worth Rs 425 crore to ‘A;Stable/A1’ from ‘A+/A1’. The rating agency has also reaffirmed Short Term Bank Facilities worth Rs 325 crore to ‘A1’.

Tamil Nadu Newsprint & Papers (TNPL) is engaged in the manufacture of newsprint and printing and writing paper by using bagasse as a raw material.

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