ICRA upgrades rating of Mold-Tek Packaging’s bank facility

Credit rating agency, ICRA has upgraded rating of Mold-Tek Packaging’s term loan facility worth Rs 3.50 crore at ‘A-’ with stable outlook. The rating agency has also upgraded the company’s long term fund based facility worth Rs 70 crore at ‘A-’ with stable outlook. Further, the rating agency has reaffirmed ‘A2+’ rating to the company’s short term non fund based facility worth Rs 1 crore.

Mold-Tek Packaging is the leader in manufacturing of plastic packaging products including pails. It specializes in both standard and made-to-order packaging solutions for leading brands of paints, lubricants, pharmaceuticals, cosmetics, FMCGs, etc.