CARE reviews credit rating on Rs2,400cr bank facilities of Phillips Carbon Black; Stock up 1%

The rating on the company’s long-term bank facilities Rs550cr has been revised to CARE AA with a Stable outlook from CARE AA-; Stable.

Jun 21, 2021 02:06 IST India Infoline News Service

The Rating Committee of CARE Ratings, after due consideration, has reviewed the credit ratings on Rs2,400cr total facilities of Phillips Carbon Black Limited. The rating on the company’s long-term bank facilities Rs550cr has been revised to CARE AA with a Stable outlook from CARE AA-; Stable.

The rating on long-term / short-term bank facilities Rs1,850cr CARE AA; Stable/CARE A1+ was revised from CARE AA-; Stable / CARE A1+.

At around 2.17 PM, Phillips Carbon Black Ltd was trading at Rs223.95 per piece up by Rs2.2 or 0.99% from its previous closing of Rs221.75 per piece on the BSE.

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