CARE reaffirms A- rating to JK Tyre & Industries’ Long-term Bank Facilities

Credit rating agency, CARE has reaffirmed A- rating to JK Tyre & Industries’ Long-term Bank Facilities worth Rs 2,230.80 crore. The rating agency has also revised A1 rating to Short-term Bank Facilities worth Rs 1,325.30 crore from  A2+ and  A-/ A1 ratings to company’s Long-term/ Short term Bank Facilities worth Rs 200.00 crore from A-/ A2+ The revision in the ratings of the bank facilities of JKTI takes into account the improved liquidity position on account of continuous expansion in profitability leading to reduction in the gearing levels JK Tyre & Industries is the flagship company under the umbrella of JK Organization. JK Tyre is the pioneer for Steel Radial technology in India. Over the years, the company has expanded and diversified its business portfolio. It has developed into a multi product, multi-location corporate entity.