Credit rating agency, Credit Analysis & Research (CARE) has reaffirmed the short term and long term ratings to the bank facilities of Pennar Engineered Building Systems (PEBS Pennar), a subsidiary of Pennar Industries.
CARE has assigned the ‘A1 (SO)’ rating to the short term bank facilities. This rating is applicable to facilities having tenure of up to one year. Instruments with ‘A1 (SO)’ rating have very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.
Further, CARE has also reaffirmed the ‘A (SO)’ rating to the long term bank facilities of PEBS Pennar. This rating is applicable to facilities having tenure of more than one year. Instruments with ‘A (SO)’ rating offer adequate 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).
