Credit rating agency, ICRA has reaffirmed rating of ‘AA+’ with stable outlook to Graphite India’s NCD Programme worth Rs 100 crore. The rating agency has also reaffirmed ‘A1+’ ratings to company’s Commercial Paper/ Short Term Debt Programme worth Rs 70 crore. Meanwhile, bank working capital limits of Rs 720 crore (Fund Based/ Non fund based) at ‘AA+ (stable)’ / ‘A1+’ too has been reaffirmed by the rating agency. The outlook on the long-term rating is stable.
Graphite India (GIL) is engaged in manufacturing of graphite electrodes. GIL set up its first facility at Durgapur in east India in 1967. Besides graphite electrodes, the company also manufactures anodes, other miscellaneous carbon and graphite products and calcined petroleum coke.
