CARE reaffirms Fairchem Organics' long-term ratings; stock spurts ~4%

16 Aug 2022 , 01:44 PM

Fairchem Organics Limited informed that CARE Ratings Limited (CARE), post annual review, has reaffirmed/assigned the ratings for various long-term/short-term credit facilities.

The rating agency has reaffirmed the ‘CARE A+’ rating for the company’s long-term Bank Facilities worth Rs123.99 crore. Further, it has assigned a Stable outlook to the same.

For Long Term/Short Term Bank facilities worth Rs2.25 crore, CARE has reaffirmed the ‘CARE A+/CARE A1+’ rating, with a Stable outlook.

Company’s short-term bank facilities worth Rs5 crore were assigned a ‘CARE A1+’ rating by CARE Ratings Limited.

At around 1.148 PM, Fairchem Organics was trading 4.16% higher at Rs1,993.05 per piece, against the previous close of Rs1,913.65 on NSE. So far, it hit intraday high and low of Rs2,047.80 and Rs1,923 respectively.