Ind-Ra affirms ratings of Fiberweb (India) at ‘IND BBB-’ with stable outlook

Ind-Ra affirms ratings of Fiberweb (India) at ‘IND BBB-’ with stable outlook.

May 07, 2021 02:05 IST India Infoline News Service

Fiberweb (India) Limited has informed that the shareholders that Bank in principle has agreed to finance for company's expansion programme. For getting low interest it was advised to get credit rating of the Company.

India Ratings and Research (Ind-Ra) has affirmed company's Long-Term Issuer Rating at ‘IND BBB-’. The Outlook is Stable.

This will be beneficial to the Company for competitive prograrune which is as follows:-

1. Expansion of Melt Blown capacity to double
2. Flat Bond project

As Melt Blown and Spun Bond both are used for face masks, there is spurt in demand for both the products and better margin.

At around 2:10 PM, Fiberweb (India) was trading at Rs38 per piece down by Rs1.75 or 4.4% from its previous closing of Rs39.75 per piece on Sensex.

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