FINEOTEX CHEMICAL LIMITED : CREDIT RATING UPGRADED TO [ICRA]AA- (STABLE)

• ICRA upgraded Fineotex Chemical's long-term credit rating to [ICRA]AA- (Stable) from [ICRA]A+ (Positive). • ICRA also reaffirmed the company's short-term rating at [ICRA]A1+. • The upgrade is attributed to strong improvement in scale and diversification following the acquisition of a US-based speciality chemical manufacturing group. • Key observations include a healthy growth trajectory, strong financial risk profile with negligible debt, and a strong liquidity position. • Impact: Credit rating upgrade signifies improved financial health and market confidence.

Fineotex Chemical Limited

Open attachment

← Back to feed