Man Industries (India) Limited announced on August 12 that rating agency Crisil has upgraded its credit ratings, based on a review of the latest development.
According to a press release, the long-term rating has been upgraded to A/ Stable from A-/Positive and short-term rating from A2+ to A1.
The upgrade, said the release, is a positive step for the company as it had recently received a new order worth approximately Rs 200 crore from oil & gas and water sector. With an order book that now stands approximately at Rs 1,500 crore to be executed in the current financial year, it reflects a robust business environment and showcases the trust customers have in Man Industries’ technological and execution capabilities, added the release.