Credit rating agency, CRISIL has assigned ratings to ISGEC Heavy Engineering’s wholly owned subsidiary and Joint Venture Titan Metal Fabricators’ Rs 40 crore limit of Line of Credit.
The rating agency has assigned rating ‘AA (SO)/Stable’ to the company’s Cash Credit and Working Capital Demand Loan worth Rs 5 crore and rating of ‘A1+ (SO)’ for the Letter of credit and Bank Guarantee of Rs 25 crore. The rating agency has also assigned ‘A2’ rating to the company’s proposed Non Fund Based Limit worth 10 crore.
ISGEC Heavy Engineering is engaged in the manufacturing of machinery parts and equipment. Its products include heat exchangers, reactors, columns, plate and tabular construction type fume hoods, galvanising baths, tubes, panels, superheater and economiser elements, industrial machinery equipment for steel plants.
