Credit rating agency, CARE has revised rating of Ashapura Intimates Fashion’s long term bank facilities worth Rs 690.38 crore to ‘BBB-’ from ‘BB+’. The revision in the rating assigned to the bank facilities of Ashapura Intimates Fashion (AIFL) is on account of improvement in the capital structure, consistent growth in operations with improvement in profitability margins and growing brand presence. The rating continues to derive strength from the experience of the promoters.
Ashapura Intimates Fashion is engaged in the business of designing, branding, marketing and retailing of intimate garments through a well developed & wide distribution network and undertakes sales through organized retail chains and own outlets (of around 105 distributors and have presence in more than 13500 retail counters).
