CARE reaffirms rating of Gujarat Alkalies and Chemical’s bank facilities

13 Sep 2012

Credit rating agency, CARE has reaffirmed AA rating to Gujarat Alkalies and Chemical’s long term bank facilities worth Rs 401.33 crore for tenure of more than one year. The rating agency has reaffirmed A1+ rating to the company’s short term bank facilities worth Rs 45.00 crore for tenure up to one year.

The rating agency has also reaffirmed A1+ rating to its short term debt/commercial paper issue for an amount aggregating to Rs 100 crore for a maturity not exceeding one year.

Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.

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