Credit rating agency, CARE has revised rating of Asahi India Glass’ long term bank facilities worth Rs 690.38 crore to ‘BB+’ from ‘BB’. The rating agency has revised rating of company’s short term bank facilities worth Rs 310 crore to ‘A4+’ from ‘A4’. Meanwhile, the rating agency has also revised rating of company’s Long-term/Short-term bank facilities worth Rs 88.50 crore to ‘BB +/ A4+’ from ‘BB/A4’.
The revision in the ratings takes into account the continued promoter support in the form of equity infusion during H1FY14. Furthermore, the ratings continue to derive strength from the promoter experience, AIS’s established track record of operations, dominant market position in the auto-glass segment and sustained relationships with Original Equipment Manufacturers (OEMs).
Asahi India Glass is engaged in the manufacturing of glass and glass products for application in the automobile and construction sectors. The company operates under two strategic business units (SBUs), namely, AIS Auto Glass and AIS Float/Architectural Glass.
| Company Name | CMP |
|---|---|
| Asahi India Glass | 860.60 |
| Borosil Renewables | 595.25 |
| Borosil Scientific | 153.70 |
| Haldyn Glass | 123.50 |
| La Opala R G | 181.10 |
| View more.. | |
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