Credit rating agency, CARE has reaffirmed AAA rating to MRF’s long-term bank facilities worth Rs 720 crore. The rating agency has also reaffirmed A1+ rating to short-term bank facilities worth Rs 550 crore of the company.
The company has received the rating reaffirmation on the back of its long operational track record, market leadership position in the domestic tyre industry supported by its strong brand image with diverse product offering and a wide distribution network, complemented by strong growth in the revenues.
MRF (Madras Rubber Factory) is India’s No.1 tyre manufacturing company. Currently, the company exports tyres to over 65 countries including America, Europe, Middle East, Japan, and the Pacific region.
