Infomerics reaffirms 'IVR A-/Stable' on Responsive Industries' bank facilities

Long term and short term working capital facilities has been reaffirmed to IVR A- with stable outlook and IVR A2+.

May 12, 2021 10:05 IST India Infoline News Service

Infomerics Valuation and Rating has reaffirmed credit rating of Responsive Industries.

Long term and short term working capital facilities has been reaffirmed to IVR A- with stable outlook and IVR A2+.

According to the rationale, the ratings assigned to the bank facilities of Responsive Industries Limited (RIL) continues to derive strength from experienced promoters, significant & healthy improvement in operating profitability, well-diversified product portfolio & strong marketing network.

The rating is however constrained by stretched operating cycle and susceptibility to volatility in forex rates and raw material prices.

At around 10:30 AM, Responsive Industries was trading at Rs158.45 per piece down by Rs0.05 or 0.03% on Sensex.

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