ICRA suspends rating assigned to Apcotex Industries’ bank facilities

09 Dec 2011

ICRA has suspended ‘BBB+’ and ‘A2+’ rating assigned to Apcotex Industries’ Rs 14.0 crore long term fund based facilities and Rs 5.0 crore short term non-fund based facilities respectively. The suspension follows ICRA’s inability to carry out a rating surveillance in the absence of the requisite information from the company.

With basic engineering and process know-how from Chemische Werke Huls (CWH) Germany, Apcotex pioneered the production of Vinyl Pyridine Latex, an important raw material for the tyre industry, in India.

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