ICRA assigns AA (Positive) rating on long-term fund based instrument of Garware Technical Fibres

24 Feb 2022 , 01:17 PM

ICRA Limited has reviewed the credit rating assigned to bank facilities availed by Garware Technical Fibres Limited.

The long-term fund-based Rs145 crore has been assigned at ICRA AA (Positive). For Long-Term / Short-Term Non-Fund based Rs90cr ICRA AA (Positive) / ICRA A1+ has been reaffirmed. Outlook revised from Stable to Positive on Long-Term Scale.

The credit rating agency also reaffirmed the rating on Commercial Paper Rs15 crore at ICRA A1+. The rating was withdrawn on the request of the Company as there is no outstanding against the said instrument, ICRA said.

At around 1.20 pm, Garware Technical Fibres Limited was trading at Rs2716.00 per piece down Rs137.15 or 4.81% on the BSE.