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CRISIL reaffirms credit rating on Oricon Enterprises' bank facilities

CRISIL believes Oricon will continue benefit from its established market position in the packaging industry.

November 09, 2021 4:35 IST | India Infoline News Service
Oricon Enterprises Ltd has informed to the exchanges that Crisil has reviewed and reaffirmed ratings outstanding for debt debt instruments of the company.

Long-term rating has been reaffirmed to CRISIL A-/Stable while short-term rating has been reaffirmed to CRISIL A2+.

CRISIL Ratings on the bank facilities of Oricon Enterprises Limited (Oricon) continues to reflect the company's established market position as the leading closure (metal and plastic) manufacturer in India, and its strong financial risk profile because of healthy networth, comfortable gearing and healthy debt protection metrics.

These strengths are partially offset by susceptibility to volatility in raw material prices, forex risk and exposure to risks related to product substitution.

CRISIL believes Oricon will continue benefit from its established market position in the packaging industry.

Oricon Enterprises ended at Rs26.75 apiece down by Rs0.15 or 0.56% on Sensex.

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