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| Exchange Disseminated Time | KEI Industries Ltd has informed BSE that Credit Analysis & Research Ltd. (CARE) has reaffirmed the 'CARE BBB+' (triple B Plus) rating assigned to the Long Term facilities availed by the Company. This rating is applicable to facilities having tenure of more than one year. Facilities with this rating are considered to offer moderate safety for timely servicing of debt obligations. Such facilities carry moderate credit risk.
Further, CARE has reaffirmed the 'PR 2+' (PR Two Plus) rating for the Short Term facilities availed by the Company in the form of Non-fund based limits and Short Term Debt/Commercial Paper. This rating is applicable for facilities having tenure up to one year. Facilities with this rating would have adequate capacity for timely payment of short-term debt obligations.
The rating considers KEI's vast experience in the cable industry, proven track record, established market position, growth in operating income and profitability and diversified as well as reputed clientele, besides continued focus on power sector development by Govt. of India. |
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