Punjab Chemicals & Crop Protection Ltd announced that CARE Ratings Limited has assigned and upgraded credit ratings for several of the company’s bank facilities. Specifically, CARE assigned a rating of CARE A-; Stable to the Long Term Bank Facilities amounting to Rs 99.94 crore, a rating of CARE A-; Stable / CARE A2+ to Long Term / Short Term Bank Facilities totaling Rs 60.00 crore, and a rating of CARE A-; Stable / CARE A2+ to Long Term / Short Term Bank Facilities amounting to Rs 200.00 crore (enhanced from Rs 100.00), while also assigning a rating of CARE A2+ to Short Term Bank Facilities totaling Rs 55.00 crore (enhanced from Rs 45.00); the ratings for the Rs 200.00 Long Term / Short Term Bank Facilities were upgraded from CARE BBB+; Stable / CARE A2, and the ratings for the Rs 55.00 Short Term Bank Facilities were upgraded from CARE A2.
