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CARE assigns ratings to Mangalam Timber Products’ Bank Facilities

26 Feb 2014

Credit rating agency, CARE has assigned ‘B+’ rating to Mangalam Timber Products’ Long Term Bank Facility (Term Loan) worth Rs 0.28 crore and Long Term Bank Facility (Fund based) worth Rs 12.00 crore. The rating agency has also assigns ‘A4’ rating to company’s Short Term Bank Facility (Non Fund based) worth Rs 6.08 crore.

The company has received the ratings on the back of its long track record and experience of the promoters, strong support from the Group Company and established brand of the product.

Duratuff MDF is made at Mangalam Timbers Products' state-of-the-art, automated manufacturing plant, mostly out of specially selected timbers. A continuous, computer-controlled process shapes them, after which they are compressed at high heat and pressure. What emerges is high quality fibre board, uniformly thick and smooth, stable on both surfaces.

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