CARE reaffirms ratings of Loyal Textile Mills’ bank facilities

Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Rs 501.73 crore long term bank facilities of Loyal Textile Mills. The rating agency has also reaffirmed ‘PR3’ rating to Rs 188 crore short term bank facilities of the company.

The ratings continue to take into account the company’s track record of more than six decades of operations, promoter’s experience in the textile business, vertically integrated nature of operations, benefits derived from diverse offerings within each product category and geographically spread customer base.

Loyal Textile Mills, the flagship company of the Loyal group, is a vertically integrated textile company, engaged in production and sale of different types of yarn, knitted, woven fabrics and garments.