ICRA assigns ‘A-’ and ‘A2+’ ratings to Premier Explosives’ bank facilities

30 Apr 2013

Credit rating agency, ICRA has assigned ‘A-’ rating to Premier Explosives’ long term bank facilities worth Rs 20 crore. Instrument with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

The rating agency has also assigned ‘A2+’ rating to the company’s short term bank facilities worth Rs 34 crore. Instrument with this rating are considered to have strong degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

Premier Explosives is one of the major companies manufacturing the entire range of explosives and accessories for the civil requirement. PEL is the first manufacturer in India to deploy totally indigenous technology. The company today has the widest range of products and technologies in the manufacture of explosives and accessories.

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