CARE reaffirms ratings to JK Tyre & Industries’ Bank Facilities

Credit rating agency, CARE has reaffirmed BBB+ rating to JK Tyre & Industries’ Long-term Bank Facilities worth Rs 2,230.80 crore which was enhanced from 1,913.97 crore and A2 rating to Short-term Bank Facilities worth Rs 1,325.30 crore which was enhanced from 1,105.00 crore. The rating agency has also reaffirmed BBB+/ A2 rating to company’s Long-term/ Short term Bank Facilities worth Rs 200.00 crore.

The ratings of JKTI continue to factor in the strength derived from the experience of the promoters, JKTI’s long-track record of operations, its established market position and wide marketing and distribution network

JK Tyre & Industries is the flagship company under the umbrella of JK Organization. JK Tyre is the pioneer for Steel Radial technology in India. Over the years, the company has expanded and diversified its business portfolio. It has developed into a multi product, multi-location corporate entity.