ICRA reaffirms A1+ rating to Rs 250 cr CP

New Delhi, Oct 12 (UNI) Credit rating agency ICRA has reaffirmed the highest safety 'A1+' rating to Rs 250 crore commercial paper (CP) and short term debt (STD) programme of DCM Shriram Consolidated Limited(DSCL).

In addition, ICRA also reaffirmed 'LAA' rating to long term debt rating of Rs 10 crore programme of DSCL, indicating high-credit-quality.

The ratings continue to factor in the strengths derived from DSCL's diversified revenue streams, its operating efficiencies for its PVC and chlor alkali businesses at Kota and its costs competitiveness in these businesses arising primarily out of a low-cost coal-based captive power generation facility.

DSCL posted a turnover of Rs 2300 crore in the last fiscal.

Although, sugar and chlro alkali together accounted for 30 per cent of the turnover, their contribution to PBIT was 78 per cent.

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