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CRISIL reaffirms credit ratings on Chembond Chemicals' bank facilities

The ratings continues to reflect the Chembond group’s established market position with presence in diversified sub-segments.

November 16, 2021 11:47 IST | India Infoline News Service
CRISIL Ratings has reaffirmed its ‘CRISIL BBB+/Stable/CRISIL A2’ ratings on the bank facilities of Chembond Chemicals Ltd. CRISIL Ratings has also withdrawn its rating on Chembond’s cash credit facility of Rs7cr. The withdrawal is based on the client request and is inline with CRISIL Rating’s policy on withdrawal of rating.

According to the rationale, the ratings continues to reflect the Chembond group’s established market position with presence in diversified sub-segments in the specialty chemicals sector with healthy financial risk profiles. These strengths are partially offset by working capital-intensive operations and exposure to intense competition in the speciality chemicals industry.

For arriving at its ratings, CRISIL Ratings continues to combine the business and financial risk profiles of Chembond with those of its subsidiaries.

At around 11:48 AM, Chembond Chemicals was trading at Rs219.85 apiece up by Rs0.9 or 0.41% on the BSE.

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