India Glycols has received rating up-gradation from Fitch Ratings. The rating agency has upgraded the company’s Rs 745.67 crore long-term loans rating to A-(ind) from BBB+ (ind). The rating agency has also upgraded the company’s Rs 405 crore fund-based limits rating to A-(ind) from BBB+(ind) and national short term rating to A2+(ind) from A2(ind). Further, it has upgraded the company’s Rs 775 crore non-fund-based limits to A2+ (ind) from A2 (ind).
The upgrade reflects the company’s improved credit metrics due to a consistent improvement in its profitability and revenue since FY10 (year end March).
India Glycols (IGL) is engaged in the business of manufacturing glycols, ethoxylates and PEGs, performance chemicals, glycol ether and acetates, guar gum and potable alcohol. Promoted by Vam Organics, the company was incorporated under the name as UP Glycols.
Company Name | CMP |
---|---|
Tata Chemicals | 1062.00 |
SRF | 2230.80 |
Pidilite Inds. | 2945.35 |
Aarti Inds | 666.35 |
Gujarat Fluorochemic | 3224.05 |
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