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India Ratings upgrades Cosmo Films to 'IND A'

India Blooms News Service | | 25 Nov 2015, 11:06 pm
Kolkata, Nov 25 (IBNS), 2015–India Ratings and Research (Ind-Ra) in its recently carried out annual rating review has upgraded Cosmo Films Ltd.'s (CFL) long-term creditrating to 'IND A' from 'IND A-'

The re-rating can be attributed to a host of internal and external drivers. The internal drivers include slew of measures taken by the company in the recent times to enhance its profitability.

This includes consistent efforts to improve export margins, manufacturing lines’ efficiency,US operations EBIDTA and cost rationalization on power & freight.

“Moreover consistent deleveraging measures to keep the debt to EBIDTA ratio below 3X is evident from the fact that the company has brought down its debt the last 24 months by 1970 million,” said Neeraj Jain, Chief Financial Officer of the company.

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