GNFC Credit Rating

Hi I would like to have the details of the rating which have been affirmed by the ICRAI for Gujarat Narmada Valley Fertilizers Company (GNFC)?

[Shaleen]

ICRA has reaffirmed a rating of AA-to the Term advances of Gujarat Narmada Valley Fertilizers Company (GNFC) for a measure of Rs 3156 crore.

The FICO assessment organization has additionally reaffirmed the AA-rating alloted to the Rs 430 crore store based points of confinement of GNFC.

In the interim, the rating organization has held the point of view toward long haul rating of the organization as "steady". ICRA has additionally reaffirmed the A1+ rating to the Rs 400 crore non reserve based breaking points and Rs 200 crore Commercial Paper programme of the organization.

The reaffirmed appraisals mirror the qualities of the organization, for example, built up business sector position in composts business (with its manure image Narmada being very much dug in inside of the rancher group particularly in Gujarat), market administration in chemicals business for items including Methanol, Acetic corrosive and TDI, assorted chemicals item portfolio with vertical joining advantages and the proceeded with change sought after and valuing viewpoint for key chemicals amid FY2011 and FY2012.

GNFC is locked in essentially in the production of manures, for example, urea, ANP and CAN, and mechanical chemicals, for example, methanol, acidic corrosive, formic corrosive, and nitric corrosive. The organization additionally exchanges a couple of composts and chemicals.