CARE assigns ‘AA-’ rating to Century Textiles and Industries’ NCD issue

25 Sep 2012

Credit rating agency, CARE has assigned AA- rating to Century Textiles and Industries’ Non-Convertible Debentures facilities worth Rs 500.00 crore. The company has received the said rating on the back of its well-established operations, experienced management and diversified business profile. 

Century Textiles has three business verticals cement, textiles and paper. Largest revenue contribution comes from the cement business at 60% while textiles and paper verticals account for 20% each. Meanwhile, US-based International Paper is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa.

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