Udaipur Cement Works Limited (subsidiary of JK Lakshmi cement Limited) has been independently assigned AA/Stable/ A1+ ratings to the bank facilities by CRISIL, AA Rating for its entire long term existing and proposed borrowings & A1+ for UCWL’s short term borrowing programme.
This long-term Rating of UCWL assigned by CRISIL is on standalone basis without any credit enhancement (CE) support from the parent company, although the entire rationale for assigning this rating of UCWL by CRISIL is based on the backup of the strong management and financial support and project execution competencies of JKLC. The ratings also consider UCWL's turnaround in operating performance and its high financial flexibility, strong liquidity and stable outlook with improving standalone credit risk profile.
Read the article online at: https://www.worldcement.com/indian-subcontinent/11112021/udaipur-cement-works-limited-receives-aastable-a1-ratings-from-crisil/
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