India : Aditya Birla Nuvo gets highest credit rating for its bank facilities

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Aditya Birla Nuvo gets highest credit rating for its bank facilities

05
Apr '08

Aditya Birla Nuvo has been assigned a 'CARE AAA' (Triple AAA) rating for its long term facilities (including working capital). Further the company has also been assigned 'PR1+' (PR One Plus) rating for its short term facilities.

Working capital lenders of the company had requested for risk rating for the company's working capital facility in connection with their capital adequacy requirement pursuant to BASEL-II norms.

Aditya Birla Nuvo Ltd (erstwhile Indian Rayon and Industries Ltd) is a diversified conglomerate within Aditya Birla Group, with a consolidated turnover of Rs.82,580 million for FY 2006-2007. It is a leading player in most of its business segments, including viscose filament yarn (VFY), carbon black, branded garments, fertilisers, textiles and insulators. Over the past years, Aditya Birla Nuvo, through its subsidiaries and joint ventures, has made successful forays into life insurance, telecom, business process outsourcing (BPO), IT services, asset management and other financial services, striking a balance between value businesses and high growth businesses.

Aditya Birla Nuvo Ltd

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