Credit rating agency, CARE has reaffirmed BBB+ rating to Tilaknagar Industries’ long term loans worth Rs 88.12 crore and long term bank facilities worth Rs 310.00 crore. The rating agency has also reaffirmed A3 rating to the company’s short-term bank facilities worth Rs 60.00 crore.
The company has received the said rating reaffirmation on the back of its experienced promoters and established marketing network for its well known brands having strong presence in Southern India. However, the ratings are constrained by the company’s support to its subsidiaries/group companies by way of investment in equity, loans and advances and corporate guarantees extended.
Tilaknagar Industries is one of the renowned Indian Made Foreign Liquor players including whisky, brandy, gin, rum and vodka with presence across India. The company manufactures markets and sells more than 40 brands across all price points.
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|---|---|
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