CARE revises long-term rating of Filatex's bank facilities to ‘CARE A+/Stable'; stock adds ~1%

22 Jun 2022 , 02:55 PM

Filatex India Limited informed that CARE Ratings has revised its credit rating in respect of the company’s Long Term Bank Facilities.

The rating agency has revised the rating to ‘CARE A+’ from the existing ‘CARE A’. Further, it has given a Stable outlook for the same. Long-term facilities reviewed have been enhanced from Rs137 crore to Rs402.12 crore.

Company’s long-term/Short Term Bank Facilities worth Rs750 crore have been assigned a ‘CARE A+/CARE A1+’ rating, along with a Stable outlook.

Total bank facilities reviewed by the rating agency are worth Rs1,152.12 crore.

At around 2.58 PM, Filatex India was trading at Rs94.65 up by Rs0.55 or 0.58% from its previous closing of Rs94.10 on the BSE. The scrip touched intraday high and low of Rs97.95 and Rs94.30 respectively.