Credit rating agency, Credit Analysis & Research (CARE) has upgraded A- rating to Sutlej Textiles and Industries’ Long Term Bank Facilities (Instruments) from BBB which indicating adequate degree of safety regarding timely servicing of financial obligations and a low credit risk to these instruments.
Further, the rating agency has also upgraded A2+ rating to the company‘s Short Term Bank Facilities (Instruments) from A3+ which indicating strong degree of safety regarding timely pay went of financial obligations and a low credit risk to these instruments.
Sutlej Textiles and Industries has 260,872 spindles for spinning yarn, six million metres a year for apparel fabrics, 1.6 million trousers a year and 3 million metres a year for home textiles fabric. It has plants in Jammu and Kashmir, Rajasthan and Gujarat.
