Credit Analysis & Research (CARE) has assigned ‘BBB’ rating to Associated Stone’s long term borrowing facilities worth Rs 57.35 crore and ‘A3+’ rating to its short term bank facilities worth Rs 30.00 crore.
The rating agency has assigned the said rating on the back of company’s established track record and being the leading player in the ‘Kota’ stone industry, its established marketing network, vast experience of its promoters, comfortable profitability margins and moderate leverage.
Associated Stone Industries has changed the process of stone mining combining with the latest technology with solid experience and innovation. It has developed a perfect diamond tool unit for cutting, sawing and shaping various natural stones matching global standards.
