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  • Indocount- Pioneers of the Indian Textile Industry gets ICRA A1+ credit rating, the upgrade signifies highest degree of safety

    Published on January 18, 2022

     Mr. Rajiv Merchant, President – Retail, Indo
    Count Industries (Boutique Living and Layers)

    MUMBAI (GPN): Mr Rajiv Merchant is considered as one of the few pioneers of the Indian bed and bath Industry our country has today Boutique Living  and Layers, from the house Of Indo Count, are an end to end bedding solutions brand which has been leading in the Home Textile Industry for the past 31 years. Boutique Living brings its expertise in refined quality bed linen, currently experienced by linen brands across the globe. Layers, on the other hand, offers smart bedding with a wide range of beautiful designs powered with experience and innovation. Boutique Living and Layers offer superior products ranging from 300 thread count to 1000 thread count with their robust R&D technical know-how and in-house production. They are extremely agile with their sustainable practices at all manufacturing stages. Mr. Rajiv Merchant is considered as one of the few pioneers of the Indian bed and bath category. Over the past three decades, Mr. Merchant has introduced memorable bed and bath brands, innovative product lines and contemporary and western home textile designs to the Indian customers. In the past three decades, Mr Merchant has won more than 14 awards- from DuPont, USA in packaging innovation, Best Home- Ware Brand by Shoppers Stop, Most Promising Brand for Tangerine by ET and The Most Talented Retail Professional Of India IHV by CMO Asia in 2015 to name a few. His ability to curate latest global design trends for domestic customer- oriented solutions as per Indian taste has made him one of the pioneering leaders of the industry. 

    ICRA Limited has upgraded the credit rating for Indo Count Industries Limited’s long-term bank facilities and reaffirmed credit rating for the short-term bank facilities.

    For long-term bank facilities of the company, ICRA AA- with Stable outlook was upgraded from ICRA A+ with Outlook Positive. The said credit rating signifies a high degree of safety regarding timely servicing of financial obligations. Such facilities carry low credit risk, the company said in a filing on Monday.

    For the Short term bank facilities, the ICRA A1+ rating was reaffirmed. The said credit rating signifies a very strong degree of safety regarding timely payment of financial obligations. Such facilities carry lowest credit risk, it added.

     By Sachin Murdeshwar

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