Credit rating agency, CARE has reaffirmed ‘BBB’ rating to Vippy Spinpro’s Long-term bank facilities worth Rs 7.66 crore which was reduced from Rs 9.66 crore. The rating agency has also reaffirmed ‘BBB/A3+’ rating to the company’s Long-term/Short-term bank facilities worth Rs 27.50 crore
The ratings assigned to the bank facilities of the company continue to derive strength from the rich experience of the promoters in the manufacturing and marketing of cotton yarn, established track record of operations and moderate capital structure and debt coverage indicators
Vippy Spinpro (VSL) is a public limited company promoted by the Mutha family based in Ujjain. VSL manufactures open-ended cotton yarn through rotor spinning technology at its facility located in Dewas near Indore, Madhya Pradesh (MP).