Credit rating agency, CARE has reaffirmed ‘AA-’ rating to JK Cement’s Long-term Bank Facilities worth Rs 2149.37 crore which was enhanced from Rs 1023.1 crore and ‘A1+’ rating to Short term Bank Facilities worth Rs 250.00 crore which was enhanced from 200 crore.
The rating reaffirmed ‘A1+’ rating to company Commercial Paper (CP) worth Rs 100.00 crore and ‘AA-’ rating to Long-term Non-Convertible Debentures (NCD) worth Rs 600.00 crore.
The ratings continue to derive strength from extensive experience of the promoters, the company’s dominant position in the white cement industry, established presence in grey cement industry, strong brand image and comfortable solvency and liquidity profile.
JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
