Credit rating agency, CRISIL has downgraded its ratings on the long term bank facilities of Kilburn Office Automation to ‘D’ from ‘C’. The rating agency has also downgraded the short term bank facilities of the company to ‘D’ from ‘A4’.
The company has received the rating downgrade for its bank facilities due to frequently overdrawing of bank limits for close to 90 days over the past two months, and that there has been frequent devolvement of letters of credit during the same period.
Kilburn Office Automation has a dynamic presence in the market segments like, Document Management Products/Solutions, Information Technology Enabled Services, Drawing Office Equipments, Banking & presentation Products/Solutions and Mailing Products & Solutions, where it is involved in supplying equipments services and solutions.
