India Ratings assigns Long-Term Issuer Rating of ‘A-’ to Sangam (India)

Credit rating agency, India Ratings & Research has assigned Sangam (India) a Long-Term Issuer Rating of ‘A-’. The outlook is stable. Moreover, the rating agency has assigned ‘A-’ rating to the company’s term loans worth Rs 384.88 crore. Also, India Ratings has assigned ‘A-’ rating to the company’s fund-based working capital limits of Rs 340 crore.

Sangam is among the top three producers of PV dyed yarn in India with total spindleage of 201,216 numbers. The company also has 30 million metres per annum (mmpa) ready-to-stitch fabric manufacturing capacity, a 52mmpa fabric processing capacity and 40mmpa denim fabric manufacturing capacity.