CARE assigns BB+ rating to Bang Overseas’ long term bank facilities

Credit rating agency, CARE has assigned ‘BB+’ rating to the Bang Overseas’ long term bank facilities worth Rs 12 crore. The rating agency has also assigned ‘A4+’ rating to the company’s short term bank facilities worth Rs 30 crore.

The company has received the said rating on the back of vast promoter’s experience and established track record in the textile industry, diversified clientele base, low overall gearing level and moderate working capital utilization.

Bang Overseas is one of the leading manufacturers and exporters of men's wear. It also deals in providing rare services like concept development, designing, manufacturing to logistic and marketing.