Credit rating of Glass Wall upgraded

CARE ratings has recently upgraded the credit rating of Glass Wall Systems (India) Pvt. Ltd. from  BBB to A- for long term and  from A3 to A2 for short term facilities.
The rating revision takes into account improvement in gearing levels and comfortable debt protection metrics of Glass Wall Systems (India) Pvt Ltd’s (GWSIPL) on account of improvement in profitability in FY14 coupled with infusion of capital in FY15.
“The rating also factors the long track record and strong competitive position of GWSIPL in the design, supply, manufacturing and installation of architectural facade system, GWSIPL’s established relationships with a diverse and reputed customer base built over time and increasing presence in the relatively high-margin premium real estate segment,” a statement said.

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