Shree Rama Newsprint surges 4% after CARE revises its credit ratings

The rating on long-term Bank Facilities (Rs154.84cr) of the company is CARE BB+ and placed credit watch with developing implications.

Nov 20, 2020 04:11 IST India Infoline News Service

CARE Ratings has revised the credit ratings of Shree Rama Newsprint Limited. The rating on long-term Bank Facilities (Rs154.84cr) is CARE BB+ and placed credit watch with developing implications.

On Long-term/Short term Bank Facilities (Rs6cr) CARE BB+/ CARE A4. It is placed under credit watch with developing implications.

The rating on long-term Bank Facilities (Rs2.56cr) is revised to CARE BBB-  from CARE BBB and placed under credit watch with developing implications. Total Facilities of the company amount to Rs163.40cr.

At around 9.38 am, Shree Rama Newsprint Ltd was trading at 13.40 per piece up 0.54 or 4.20% from its previous closing of Rs12.86 per piece on the BSE. The scrip opened at Rs13.80 and has touched a high and low of Rs13.80 and Rs13 respectively.

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