Credit rating agency, Credit Analysis and Research (CARE) has revised the rating of long term bank facilities worth Rs 132.10 crore of Pitti Laminations to BBB from BBB+. The rating agency has also revised rating of the company’s short term bank facilities worth Rs 185 crore to A3+ from A2.
Pitti Laminations is engaged in the manufacturing of electrical laminations with an installed capacity of 25,000 MTPA for the use in Rotating Electrical Machinery such as industrial motors, aeronautic wing control motors etc. The company also manufactures die-cast rotors and assembled stators, besides manufacture and sale of press tools, jigs and fixture.
