Credit rating agency, CARE has reaffirmed ‘A+’ rating to Panama Petrochem’s Long term Bank Facilities worth Rs 20 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 354 crore.
The company has received the said rating on the back of its experienced management, diverse product portfolio and wide customer base, strong debt protection metrics and strong liquidity position.
Panama Petrochem manufactures more than 80 product variants vital for nearly six to seven industry segments. They are in league with the giants of each industry. They are in collaboration with Lubcon, Germany for distribution of their specialized products.
