Credit rating agency, CARE has assigned ‘BBB-’ rating to Ortel Communications’ long-term bank facilities worth Rs 56.46 crore. The rating agency has also assigned ‘A3’ rating to company’s Short-term Bank Facilities worth Rs 20 crore. The ratings assigned to the bank facilities of Ortel Communications (OCL) takes into account established & experienced promoters, well-developed network infrastructure for cable and broadband services, strong presence in Odisha albeit geographical concentration risk and improving financial performance during FY14 (refers to the period from April 1 to March 31) to FY16.
Ortel Communications is a regional cable television and high speed broadband services provider, mainly engaged in the distribution of analog and digital cable television services, high speed broadband services & Voice over Internet Protocol (VoIP) services. Company has well presence in the Indian states of Odisha, Chhattisgarh, Andhra Pradesh and West Bengal.
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