Credit rating agency, CARE has reaffirmed A+ rating to Visaka Industries’ long term bank facilities. The rating agency has also reaffirmed A1+ rating to the company’s short-term bank facilities to the company.
The company has received the said rating reaffirmation on the back of its long and established track record of operations, its position as the second-largest player in the asbestos fibre cement sheet industry in India, moderately diversified revenue stream, comfortable financial position marked by satisfactory growth in income, moderate gearing levels and debt coverage indicators.
Visaka Industries is engaged into the manufacturing of Asbestos fibre cement sheets (ACS), non-asbestos boards & panels and man-made fibre yarns. It is the second largest player in the manufacturing of asbestos cement sheets in India with installed capacity of 7,52,000 Metric Tonnes Per Annum (MTPA).
