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.