Trident says its credit ratings upgraded

Punjab-based Trident Limited, flagship Company of $1-billion Trident Group and leading manufacturer and exporter of Textiles and Paper products, on Monday announced that its credit ratings have been upgraded by Credit Analysis and Research Limited.

The revision in the ratings of bank facilities of Trident factors in the overall improvement in the operational and financial risk profile of the company is marked by growth in operations, better profitability and improved capital structure during FY14.

The revision in rating also factors in the synergies emerging out of the merger of Trident Limited and Trident Corporation Limited (TCL) after the completion of terry towel project of TCL.