Credit rating agency, ICRA has reaffirmed the ‘BBB’ rating assigned to the Rs 98.43 crore (reduced from Rs 115.97 crore) term loans and Rs 221.62 crore (enhanced from Rs 220 crore) long term fund-based limits of Good Luck Steel Tubes (GSTL). The outlook on the long term rating is stable. The rating agency has also reaffirmed the ‘A3+’ rating assigned to the Rs 58.04 (enhanced from 55.03 crore) short term non-fund based limits of GSTL. Further, ICRA has assigned ratings of BBB(Stable) and A3+ to Rs 12.91 crore unallocated limits of the company.
The reaffirmation of ratings continues to factors in the company’s experienced management, its continuous capacity expansion initiatives to attain growth as the current capacities are utilized to 75-95% levels.
Good Luck Group is an ISO 9001 certified organization, engaged in manufacturing and exporting of wide range of Automobile CDW Tubes, Forged Engineering Products, T&D Towers & Boiler Structure, Galvanized Pipes, Roofing Sheets & Annealed Sheets.
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