Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Real Strips’s long term bank facilities worth Rs 90.65 crore enhanced from Rs 75.60 crore. The rating agency has also reaffirmed ‘A3’ rating to company’s short term bank facilities worth Rs 55.50 crore enhanced from Rs 50 crore.
The company has received the said rating on the back of its experienced promoters and long track record of operations in stainless steel industry, its established operations in manufacturing of cold rolled stainless steel (SS) coils and strips and its moderate debt coverage indicators.
Stainless steel strips, Stainless steel coils produced by Real Strips are used in Automobiles, Food & Dairy Industries, Sugar Industries, Watch Industries, Pipes & Tubes Industries, Utensils, Furniture, Architectural Utilities, Thermowares, Chemical process Industries, Electronic Industries, Surgical industries, etc for very specialized application.
