CARE Ratings has revised the rating of Panama Petrochem’s long term bank facilities to A- Stable from A negative and revised the rating on short term bank facilities to A2+ from A1.
Panama Petrochem is in the field of petroleum speciality oils and solvents for more than 25 years. Its Ankleshwar Plant is one of the best of its kind in terms of huge production capacity with large storage tanks and warehouses.