Credit rating agency, CARE has reaffirmed ‘A-’ rating to Vinati Organics’ long term bank facilities (Term loan) worth Rs 145.29 crore and ‘A2+’ rating to company’s Short term Bank Facilities (Non-fund based facilities) worth Rs 32.13 crore. The rating agency has also reaffirmed ‘A2+’ ratings to company’s short term bank facilities worth Rs 75 crore.
The company has received the said rating on the back of its promoters’ experience in manufacturing speciality organic chemicals, the company's dominant position as the largest global manufacturer of isobutyl benzene (IBB) and 2-acrylamido 2-methylpropane sulfonic acid (ATBS). Its time-tested relationship and off-take agreements with reputed domestic and international clients, company's moderate financial profile characterised by comfortable leverage and debt coverage indicators.
Vinati Organics (VOL) is one of India's leading manufacturers and exporters of specialty organic intermediaries, monomers, and polymers. VOL is the world's largest manufacturer of isobutyl benzene (IBB) and 2-Acrylamido 2-Methylpropane Sulfonic acid (ATBS) with a capacity of 16,000 TPA and 26,000 TPA, respectively as on March 31, 2013.
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