Global rating agency, Standard & Poor’s (S&P) Ratings Services has kept its rating and outlook on Rain CII Carbon LLC (RCCL), a wholly owned step down subsidiary of Rain Commodities is unchanged following Rain CII Carbon LLC’s announcement of an acquisition of Rutgers N.V.
The acquisition, however, will expand RCCL’s geographic diversification and give the company a significant footprint in the coal tar business, diversifying away from RCCL’s calcined petroleum coke business. RCCL and Ruetgers share a fair amount of similarities and both of them have strong market shares in their respective businesses.
Rain Commodities is engaged in the business of manufacturing cement, Calcined Petroleum Coke (CPC) and power. The company is the largest producer of CPC with a production capacity of 2.49 million tonnes per annum (MTPA). Under the cement, the company has created brand namely Priya Cement.