Credit rating agency, CARE has revised BB rating to the Falcon Tyres’ Rs 319.10 crore long term bank facilities from BBB. The rating agency has also revised the company’s short term bank facilities rating worth Rs 59 crore to A4 from A3.
The company has received the revised rating on account of deterioration in its liquidity position owing to less than optimum utilisation of the newly expanded capacity and significant net losses incurred during FY12 primarily on account of exceptional loss incurred on sale of investment in Monotona Tyres (MTL).
Falcon Tyres manufactures and markets a wide range of nylon bias ply tyres and butyl tubes for two and three wheelers, passenger cars , jeeps , light commercial and farm vehicles under the DUNLOP brand in Indian market and Falcon and Donin brands for export markets.
Company Name | CMP |
---|---|
MRF | 127350.35 |
Apollo Tyres | 474.35 |
CEAT | 2287.00 |
Balkrishna Inds. | 2515.40 |
JK Tyres & Inds. | 389.25 |
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