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CRISIL assigns 'A+/Stable' rating on Raj Ratan Global Wire's bank facilities; Stock zooms 5%

CRISIL Ratings has combined the financial and business risk profiles of Rajratan India and its wholly owned subsidiary.

October 22, 2021 2:53 IST | India Infoline News Service
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CRISIL Ratings has assigned its 'CRISIL A+/Stable/CRISIL A1' ratings to the bank facilities of Rajratan Global Wire Ltd (Rajratan India; part of the Rajratan group).

The rating reflects the group’s strong market position in the tyre bead wire (TBW) industry backed by established presence in India and Thailand, experienced promoter and reputed and diverse clientele. The rating also factors in a healthy financial risk profile supported by comfortable capital structure and strong debt protection metrics.

These strengths are partially offset by exposure to cyclicality in demand from end-user industry, susceptibility of operating margin to volatility in raw material prices and exposure to project risks.

CRISIL Ratings has combined the financial and business risk profiles of Rajratan India and its wholly owned subsidiary.

At around 2:55 PM, Rajratan Global Wire was trading at Rs2,437.25 apiece up by Rs116.05 or 5% on Sensex.

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