Pennar Industries, one of India’s leading industrial companies engaged in the production and marketing of specialized and engineered metal products, and pre-engineered buildings, has received rating reaffirmation from Credit rating agency, Credit Analysis & Research (CARE) for its long term and short term bank facilities,
The rating agency has reaffirmed the ‘A1’ rating assigned to the short term bank facilities. This rating is applicable to facilities having a tenure upto one year. Instruments with ‘A1’ rating are considered to have very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.
Further, the rating agency has reaffirmed the ‘A’ rating assigned to the long term bank facilities of Pennar. This rating is applicable to facilities having tenure of more than one year. Instruments with A rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).
