Credit rating agency, ICRA has reaffirmed long term rating for Rs 151.71 crore of Term Loans and Fund based facilities of Relaxo Footwears at ‘AA-’. The outlook on the long-term rating has been changed from Stable to Positive.
The agency has reaffirmed short term rating for Rs 120.00 crore for Non Fund based facilities of the company at ICRA ‘A1+’ and it has also reaffirmed short term rating for Commercial Paper (CP) of Rs 50.00 crore of the company at ‘A1+’.
Relaxo Footwears is engaged in the manufacturing and trading of footwear and related products. The principal activity of the company is the manufacture of footwear made primarily of vulcanized or molded rubber and plastic.
