Date:30/04/2004 URL: http://www.thehindubusinessline.com/2004/04/30/stories/2004043000790300.htm

Back Bombay Dyeing retains rating

Our Bureau

Mumbai , April 29

ICRA has retained the A1+ rating assigned to the Rs 100 crore short-term debt programme of Bombay Dyeing & Manufacturing Company Ltd.

The rating indicates higher safety in the short term. The rating also takes into consideration the strong liquidity of the company, which it derives from its large liquid investment portfolio and healthy operational cash flows.

There are concerns on the price volatility in the DMT (dimethyl terepthalate) business and the uncompetitive cost structure of the textile division which the company is attempting to address through a rationalisation of its workforce and restructuring of its manufacturing facilities.