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CRISIL upgrades rating of Sambandam Spinning Mills’ long-term bank facilities

30 Dec 2013 Evaluate

Credit rating agency, CRISIL has upgraded its rating on the long-term bank facilities of Sambandam Spinning Mills to ‘BB+/Stable’ from ‘BB/Stable’. The rating agency has also reaffirmed its rating on the short-term bank facilities at ‘A4+’.

The company has received the said rating up-gradation on the back of its improved financial risk profile, marked by improvement in capital structure and debt protection metrics, over the medium term; the company’s gearing improved to 3.04 times as on March 31, 2013, from 5.07 times as on March 31, 2012, driven by healthy cash accruals.

Sambandam Spg. Mills Share Price

97.50 1.50 (1.56%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Trident 26.12
Filatex India 44.94
Nitin Spinners 419.70
Nahar Spinning Mills 249.20
Sanathan Textiles 427.00
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