Article: CRISIL rates APL's bank facilities at BB+.

Article from:
ADP Debt News
Article date:
September 3, 2009
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(ADPnews) - Sep 3, 2009 - Indian credit rating agency CRISIL said yesterday it rated at BB+ with a "stable" outlook the long-term bank facilities of local chemical company Amines & Plasticizers Ltd (BOM:506248), or APL.

The facilities include the INR 290 million (USD 5.9m/EUR 4.1m) cash credit and the INR 30 million proposed long-term bank loan facility.

The agency also assigned a rating of P4 to the company's INR 90 million letter of credit and bank guarantee.

The ratings reflect APL's weak financial risk profile, marked by low cash accruals, high gearing and weak debt protection measures. The impact of this rating weakness is mitigated by ...

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