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Amines & Plasticizers Ltd updates on suspension of Credit Rating by CARE

Posted On: 2017-01-10 00:55:57

The rating agencies Brickwork Ratings India Pvt Ltd and Credit Analysis and Research Limited (CARE) have rated the credit facilities of Amines & Plasticizers Ltd earlier. The company has received a letter dated December 29, 2016 on December 31, 2016 from CARE Ratings Limited requesting for certain information for surveillance to be submitted on or before December 30, 2016.

The company has received another letter dated December 30, 2016 on January 6, 2017 informing the suspension of rating on account of non-submission of information. The company doesn't agree with the rationale provided for suspension of credit rating since it is misleading, devoid of facts and merits. The last rating exercise was carried out by CARE in September 2015 and thereafter there is no progress in the matter till date. The company has been providing whenever information was requested and there is no default of whatsoever on this account.

Shares of AMINES & PLASTICIZERS LTD. was last trading in BSE at Rs.30.6 as compared to the previous close of Rs. 29.65. The total number of shares traded during the day was 2182 in over 19 trades.

The stock hit an intraday high of Rs. 30.6 and intraday low of 29. The net turnover during the day was Rs. 64973.


Source: Equity Bulls

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