Credit rating agency, CARE has reaffirmed BBB rating to Rohit Ferro Tech’s long-term bank facilities worth Rs 931.85 crore, which was enhanced from Rs 695.32 crore. The rating agency has reaffirmed BBB/A3 rating to the company’s long-term /short term bank facilities worth Rs 344.75 crore, which was enhanced from Rs 189.75 crore.
The rating agency has also reaffirmed A3 rating to the company’s short term bank facilities worth Rs 354.50 crore, which was enhanced from Rs 266.00 crore.
The company has received the said rating reaffirmation on the back of its comfortable financial position supported by sustained capital infusion by the promoters, company’s established position, satisfactory track record and experience of the promoters.
Rohit Ferro Tech (RFTL) had started it’s operations in October’03 with a Ferro Alloy plant comprising of Two 9 MVA Submerged Arc Furnaces to produce High Carbon Ferro Chrome at Bishnupur in the state of West Bengal.
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