CARE reaffirms rating of Bombay Rayon’s CP programme

Credit rating agency CARE has reaffirmed ‘A1’ rating to Rs 400 crore Commercial Paper (CP) issues of Bombay Rayon Fashions.

The ratings derive strength from the promoters’ significant experience in the textile business, moderate gearing levels, growth in operations over the past few years and integrated operations with economies of scale coupled with growing focus of the company towards the high-margin garment business.

Bombay Rayon Fashions is engaged in manufacturing of fabrics and apparels. It has employee strength of over 32,000 people. The company owns 13 manufacturing facilities, including one sampling unit across the country.