Credit rating agency, CARE has reaffirmed AA+ rating to Sintex Industries’ Long-term Bank Facilities worth Rs 1,478.78 crore which was enhanced from Rs 1,388.41 crore and Non-Convertible Debentures worth Rs 600.00 crore.
The rating agency has reaffirmed AA+ /A1+rating to the company’s Long-term / Short term Bank Facilities worth Rs 300.00 crore which was enhanced from Rs 260.00 crore. CARE has also reaffirmed A1+ rating to the company’s Commercial Paper / Short-term Debt (Carved Out) worth Rs 400.00 crore and Commercial Paper / Short-term Debt (Standalone) worth Rs 100.00 crore.
The company has received the said rating reaffirmation on the back of its leadership position in prefabricated structures (prefabs), monolithic construction and water tank business in the domestic market, well-established distribution network with strong brand name, wide product portfolio and diversified clientele.
