Credit rating agency, CARE has revised ‘BB-‘ratings of GTN Textiles’ Long- term bank facilities worth Rs 55.06 crore which was reduced from Rs 61.06 crore to ‘BB’.
The rating agency has also reaffirmed A4 rating to the company’s Short-term Bank Facilities worth Rs 71.00 crore.
The company has received the said rating on the back of its experienced promoters in the textile industry, a well-experienced management team and the ability of the company to derive sales growth through mix of export and domestic sales.
GTN Industries is having vertically integrated manufacturing set-up to produce fine and superfine cotton yarns, grey knitted fabrics, gassed fabrics, organic fabrics, mercerized fabrics and life style garments. Its Double Mercerized Cotton offers a unique One Stop Shop to those looking for an operationally strong and reliable source.
