Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Welspun Syntex’s long term bank facilities worth Rs 121.06 crore. The rating agency has also reaffirmed ‘A3+’ rating to the company’s short term bank facilities.
The company has received the said ratings reaffirmation on the back of financial strength of the promoters - Welspun group, significant experience of the management in the textile business and healthy growth in both sales volume and sales realization due to partial implementation of the on-going project and increase in share of value added products in the company’s sales mix.
The company is engaged in manufacturing of wide range of texturized/dyed polyester and nylon yarn from its two manufacturing units located at Silvassa and Palghar (Dist. Thane, Maharashtra).
