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.
| Company Name | CMP |
|---|---|
| Trident | 26.12 |
| Filatex India | 44.94 |
| Nitin Spinners | 419.70 |
| Nahar Spinning Mills | 249.20 |
| Sanathan Textiles | 427.00 |
| View more.. | |
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