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.