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ICRA upgrades ratings assigned to SP Apparels' bank facilities

Credit rating agency, ICRA has upgraded the long term rating for Line of Credit (LOC) to SP Apparels' from 'BBB+' to 'A' and also upgraded the short term rating for the said LOC from 'A2' to 'A1'. The aforesaid ratings are valid till March 31, 2018.

SP Apparels is a leading manufacturer and exporter of knitted garments for infants and children in India. These are manufactured at its integrated facilities that allow it to provide end-to-end garment manufacturing services from greige fabric to finished products. The company also manufactures and retails menswear garments in India under the brand 'Crocodile'.

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