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.
Company Name | CMP |
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Trident | 40.10 |
Filatex India | 64.00 |
Sutlej Textiles&Inds | 59.96 |
Nahar Spinning Mills | 288.80 |
Nitin Spinners | 355.65 |
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