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CRISIL has suspended its rating on the bank facilities of Futura Polyesters Ltd (Futura Polyesters). This is because Futura Polyesters has not been providing information on its operations and financials to CRISIL. The suspension of ratings reflects CRISIL’s inability to maintain a valid rating in the absence of information from Futura Polyesters.
About the Company
Futura Polyesters was formed by the amalgamation of Futura Polymers with Indian Organic Chemicals Ltd (IOCL) in 2002. Based in Chennai, Futura Polyesters manufactures polyester staple fibre, polymer resin, and polyethylene terepthalate pre-forms, which find application in the textile and packaging industries. The erstwhile IOCL was set up in 1960 by Mr. B M Ghia. Based at Khopoli, Maharashtra, IOCL was engaged in the manufacture of alcohol-based chemicals.
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Analytical Contacts
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CRISIL Rating Desk
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Mitu Samar
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Tanuja Abhinandan
Communications and Brand Management
CRISIL Limited
Tel: +91-22- 3342 1818
Email: tabhinandan@crisil.com
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Gurpreet S Chhatwal
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Tel: +91-11-4250 5100
Email: gchhatwal@crisil.com
Vasudevan R
Head - CRISIL Ratings
Tel: +91-44-6656 3106
Email:rvasudevan@crisil.com
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Tel: +91-22-3342 3047/3342 3064
Email:CRISILratingdesk@crisil.com
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Crisil complexity levels are assigned to various types of financial instruments. The crisil complexity levels are available on
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About CRISIL Limited
CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. We are India's leading ratings agency. We are also the foremost provider of high-end research to the world's largest banks and leading corporations.
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Last updated: March 31, 2011
Disclaimer: A CRISIL rating reflects CRISIL's current opinion on the likelihood of timely payment of the obligations under the rated instrument and does not constitute an audit of the rated entity by CRISIL. CRISIL ratings are based on information provided by the issuer or obtained by CRISIL from sources it considers reliable. CRISIL does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating is not a recommendation to buy, sell, or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. All CRISIL ratings are under surveillance. Ratings are revised as and when circumstances so warrant. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of this product. CRISIL Ratings’ rating criteria are generally available without charge to the public on the CRISIL public web site, www.crisil.com. For the latest rating information on any instrument of any company rated by CRISIL, please contact CRISIL RATING DESK at CRISILratingdesk@crisil.com, or at (+91 22) 3342 3000.
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