Credit rating agency, Credit Analysis & Research (CARE) has revised the ratings assigned to the long term facilities of India Cements from ‘AA-‘ to ‘A+’, which denotes instruments with adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk.
The rating agency has also revised rating for Commercial Paper (Standalone) of the company from ‘A1+’ to ‘A1’, which denotes instruments with very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.
Besides, the rating agency has reaffirmed the rating assigned to the short term bank facilities and Commercial Paper (Carved out) to ‘A1+’ which denotes instruments with very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.
India Cements manufactures Ready to Mix concrete (RMC)-53 grade cement. Its Coromandel King, Sankar Sakthi and Raasi Gold are 53 grade OPC (Ordinary Portland Cement), which are high strength cement used for building runways, concrete roads and bridges.
