Printer Friendly

-CRISIL attaches BB- rating to Gangotri Paper Mills.

M2 EQUITYBITES-November 30, 2011--CRISIL attaches BB- rating to Gangotri Paper Mills(C)2011 M2 COMMUNICATIONS http://www.m2.com

30 November 2011 - CRISIL on Wednesday attached BB- ratings with a "stable" outlook to the INR50m (USD955,000/EUR 719,000) cash credit, INR335m term loan and INR25m proposed long-term bank loan of Indian kraft paper manufacturer Gangotri Paper Mills Pvt Ltd.

The rating highlights the solid foothold of the company's owners as well as the close ties it keeps with clients and suppliers, the rater said.

On a negative note, Gangotri has an average financial risk profile, small business size and it is exposed to customer concentration risk, which limits the rating, in the agency's view.

Any case of a substantial change in the profitability and working capital management or the undertaking of a large capex programme will be considered triggers for a potential outlook revision, CRISIL said.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Nov 30, 2011
Words:159
Previous Article:-CRISIL gives D rating to Abhisek Projects debts.
Next Article:Autodesk to acquire Horizontal Systems.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters