Credit rating agency, CRISIL has upgraded its rating on the long-term bank facilities and non-convertible debenture programmes of Finolex Cables to ‘AA+/ Stable’ from ‘AA/Positive’. The rating on the company’s short-term bank facilities and debt programme has been reaffirmed at ‘A1+’.
The company has received the said ratings on expectation that the company will continue to remain strong on account of healthy operating performance going forward.
Finolex Cables is part of the diversified Finolex Group. The company manufactures wide range of cables such as PVC insulated electrical cables, Flameguard - FRLS cables, auto and battery cables, PVC winding wires, jelly-filled telephone cables, LAN cables, switchboard cables. It is India's largest and leading manufacturer of electrical and telecommunication cables.
