CARE reaffirms ratings of Binani Industries’ bank facilities

Credit rating agency, CARE has reaffirmed ‘BBB’ rating assigned to Rs 500 crore long term bank facilities of Binani Industries. The rating agency has also reaffirmed ‘PR3’ rating assigned to Rs 150 crore short term bank facilities of the company.

The ratings continue to derive strength from being the holding company of a well-diversified industrial house with a 139-year history behind it, the vast experience of the promoters in the cement, zinc and glass fibre businesses and reputed brand image.

The business portfolio of Binani Industries includes sectors like cement, zinc, glass-fiber and downstream composite products.