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ICRA withdraws ‘LC/A5’ rating assigned to Oswal Spinning and Weaving Mills’ bank facilities

11 Aug 2011 Evaluate

ICRA has withdrawn the ‘LC/A5’ rating assigned to Oswal Spinning and Weaving Mills’ bank facilities and term loans (including proposed term loans) aggregating to Rs 80 crore  at the request of the company. The rating was placed on notice for withdrawal for one year in August 2010.

The company is engaged in the manufacturing of 100% grey cotton yarn. Oswal Spinning has its manufacturing unit located in the Ludhiana district of Punjab with an installed capacity of 26,208 cotton yarn spindles. The company supply yarn to reputed global yarn importers in various countries.

Peers
Company Name CMP
Trident 24.35
Filatex India 48.36
Nitin Spinners 539.65
Nahar Spinning Mills 276.65
Sanathan Textiles 395.45
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