Credit rating agency, CARE has reaffirmed ‘BBB+’ rating to West Coast Paper Mills’ long term bank facilities worth Rs 657.23 crore which reduced from Rs.697.66 crore. The rating agency has also revised A3+ rating of the company’s short-term bank facilities worth Rs 235.00 crore which enhanced from Rs 85.00 crore to ‘A3+’.
The revision in the short-term rating of the bank facilities of WCPM factors in the weak debt coverage indicators and moderate liquidity profile due to high repayment obligations in the medium term and relatively high exposure towards the group company, Shree Rama News Prints Limited (SRNP), which continues to post losses. The ratings continue to factor in the company’s high financial leverage and cyclicality of the paper industry.
West Coast Paper Mills is one of the oldest and largest producers of paper for printing, writing, and packaging in India. The paper mill is located at Dandeli in Karnataka near the banks of River Kali. The variety of quality paper that we produce serve the needs of numerous industries that include food packaging, printing and publishing, garments, stationary, and notebooks to name just a few.
| Company Name | CMP |
|---|---|
| JK Paper | 375.20 |
| TN Newsprints | 140.05 |
| West Coast Paper | 492.00 |
| Emami Paper Mills | 75.24 |
| Seshasayee Paper | 270.95 |
| View more.. | |
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