CARE reaffirms rating of Polyspin Exports’ bank facilities

Credit rating agency, CARE has reaffirmed ‘BB+’ rating to Polyspin Exports’ long term bank facilities worth Rs 17.87 crore and ‘A4+’ rating to company’s short term bank facilities worth Rs 19 crore.

The ratings continue to be constrained by modest scale of operations of Polyspin Exports (PEL), low profit margin, high gearing levels and moderate debt protection metrics, volatile raw material prices and the intensely competitive packaging industry.