CARE has upgraded the rating for Pennar Industries of the Long Term Bank facilities to 'CARE A’ from ‘CARE A Minus.
For short-term Bank Facilities the rating has been upgraded to ‘PR 1’ (PR One) rating from ‘PR2+ (PR Two Plus).
Instruments with 'CARE A’ (Single A) rating offer adequate safety for timely servicing of debt obligations. Such instruments carry low credit risk
Instruments with ‘PR 1’ (PR One) rating have strong capacity for timely payment of short-term debt obligations and carry lowest credit risk.
About Pennar Industries
Pennar Industries Ltd is a multi-location, multi-product company, engaged in the manufacture of profiles and components in various grades of steel and stainless steel and caters to Auto, White Goods, Railways and Infrastructure segments.
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