From Brickwall Rating India & CARE
Nitin Spinners announced that Brickwall Rating India has assigned the following ratings to the Company's bank facilities -
Long term Rating - Term Loan & Working Capital (Fund based) - BWR A-
BG/ LC (Non fund based) - BWR A2+
Further, the Credit Analysis and Research has assigned following rating for the bank loan facilities -
Long term bank facilities - CARE BBB+
Short term bank facilities - CARE A2+
In view of the above, the rating for the long term bank loan has been upgraded from 'Moderate Degree of Safety' to 'Adequate Degree of Safety'.
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