CARE reaffirms ratings assigned to bank facilities of CEAT

The credit rating agency, CARE has reaffirmed ‘A1+’ rating to CEAT’s short-term bank facilities and commercial paper. The rating agency has also revised rating of company’s long-term bank facilities and Non convertible debenture to ‘AA’ from ‘AA-’.

CEAT is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.