Credit rating agency, ICRA has revised the long term rating assigned to the Rs 20.00 crore fund-based bank facilities of Flawless Diamond India (FDL) from LBBB- to LB+. The rating agency has also revised the short-term rating assigned to the Rs 47.60 crore fund based and non-fund based facilities of FDL from A3 to A4.
The rating revisions follow the significant deterioration in the company’s financial performance during the first nine months of 2010-11, whereby the company has registered a 22.04% decline in its turnover (standalone) in this period over the corresponding period of the previous year.
Flawless Diamond India has its diamond and jewellery manufacturing unit in Dehradun, Uttaranchal. FDL holds approximately 99% share in Flawless Jewellery a partnership firm engaged in (Cut and Polished Diamond) CPD manufacturing.
| Company Name | CMP |
|---|---|
| Titan Co | 4526.30 |
| Kalyan Jewell.India | 426.90 |
| Rajesh Exports | 125.34 |
| Senco Gold | 326.45 |
| Thangamayil Jeweller | 4205.90 |
| View more.. | |
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