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Nitin Spinners gets ratings assigned for bank facilities

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Capital Market
Last Updated : Oct 19 2015 | 11:28 AM IST

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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First Published: Oct 19 2015 | 10:38 AM IST

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