ICRA assigns A4 rating to bank facilities of Yarn Syndicate

Credit rating agency, ICRA has assigned an A4 rating to the existing fund based bank facilities of Rs 9 crore and proposed fund based bank facilities of Rs 3 crore of Yarn Syndicate.

The rating takes into account the long experience of the promoters in the cotton yarn trading business and the resumption of import of cotton yarn from Bangladesh which gives YSL an access to the textile industry based in the country.

Yarn Syndicate is largely involved in the export of various types of yarn such as cotton, polyester, viscose, and jute yarns to countries like Brazil, Bangladesh, Belgium, Bulgaria, Estonia, U.K, and other European Union countries.