Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to Tilaknagar Industries’ Long-term Loans worth Rs 252.95 crore, which are enhanced from Rs 80.67 crore and also reaffirmed ‘BBB+’ rating to Long-term Bank Facilities worth Rs 425 crore.
The rating agency has also revised ‘A3+’ rating to company’s Short-term Bank Facilities worth Rs 45 crore from A3.
The ratings continue to factor in strength from TI’s healthy profitability margins and growth in revenues in FY13.
Tilaknagar Industries is one of the renowned Indian Made Foreign Liquor players including whisky, brandy, gin, rum and vodka with presence across India. The company manufactures markets and sells more than 40 brands across all price points.
