CARE has reaffirmed ‘AA’ ratings to Gujarat Alkalies and Chemicals’ Long Term Facilities of Rs 383.33 crore which was reduced from Rs 401.33 crore for tenure of more than one year. The rating agency has also reaffirmed A1+ rating for Short Term Facilities of Rs 45.00 crore for tenure up to one year and Short Term Debt / Commercial Paper Issue for an amount aggregating to Rs 100 crore for a maturity not exceeding one year.
Gujarat Alkalies and Chemicals is engaged in business of manufacturing basic chemicals such as sodium cyanide, sodium ferrocyanide, chloromethanes, hydrochloric acid, caustic potash, potassium carbonate, phosphoric acid (85%) and hydrogen peroxide.
