Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Simplex Casting’s long term bank facilities worth Rs 81.05 crore reduced from Rs 84 crore. The rating agency has also reaffirmed ‘A3’ rating to company’s short term bank facilities worth Rs 75 crore.
The company has received the said rating on the back of its considerable experience of promoters, long and satisfactory track record of the company, satisfactory order book position, diverse product portfolio catering to varied industries, reputed clientele, strong technical tie-ups, and moderate financial position with adequate leverage ratios.
Simplex Castings is engaged in manufacturing of engineering castings in various grades for core industrial sector like steel, power, railroad equipment, mining, cement, defence, sugar and other specialized areas in as cast, machined and in assembled condition.
