CARE upgrades ratings assigned to bank facilities of Indo Count Industries

Credit Rating Agency, CARE has upgraded the rating assigned to Indo Count Industries’ long term bank facilities from ‘A’ to ‘AA-’ signifying high degree of safety regarding timely servicing of financial obligations. Such facilities carry very low credit risk.

The rating agency has also upgraded the rating assigned to company’s short term bank facilities from ‘A1’ to ‘A1+’ signifying very strong degree of safety regarding timely payment of financial obligations. Such facilities carry lowest credit risk.

Indo Count Industries is an India-based home textile company engaged in the activity of manufacture of textile products. The company is involved in the manufacture of bedding, quilts, pillows, sleeping bags and others, and preparation and spinning of cotton fibers, including blended cotton. The company operates as an end-to-end bedding provider.