Credit rating agency, CARE has assigned ‘BBB-’ rating to Andhra Cements’ long term bank facilities worth Rs 924 crore. The rating agency has also assigned 'A3' rating to company’s Short-term Bank Facilities worth Rs 50 crore.
The company has received the said ratings on the back of its experienced and resourceful promoters, support received from the Jaypee group for the company’s operating, marketing and distribution activities apart from equity infusion and funding support.
Andhra Cements (ACL) is engaged in manufacturing and selling of cement. The compnay has cement manufacturing facilities at Durga Cement Works (DCW), Dachepalli, Guntur District with a split grinding unit at Visakha cement Works (VCW), Visakhapatnam, Andhra Pradesh, having an aggregate installed capacity of 1.42 million tonne per annum (mtpa).
