Credit rating agency, CARE has assigned ‘BBB-’ rating to long-term bank facilities of Salora International (SIL). The company has received the said rating on the back of its promoters’ extensive experience supported by technically qualified team, presence of a long-term agreement with its client, stable revenue model, moderate financial risk profile characterized by healthy profitability margins, moderate capital structure, comfortable coverage indicators and comfortable operating cycle.
Recently, ICRA reaffirmed the BB+ rating to Rs 42.00 crore fund based limits of Salora International (SIL). The outlook on the long-term rating is ‘stable’. The rating agency also reaffirmed the short-term rating of A4+ to Rs 10.00 crore non-fund based limits of the company.
Salora International is mainly focused on distribution of mobile phones, thermo ware products and has tied up with a number of companies like TCT International and Zojirushi Hongkong Company etc. for the distribution and servicing of their products.
