Mumbai, April 5 -- The agency has also affirmed the company's short-term rating at 'CARE A1+'.

CARE Ratings stated that the ratings assigned to bank facilities of Trident continue to derive strength from its experienced management, diversified and integrated operations across textile and paper and chemicals segments, geographically diversified revenue stream and long and established customer relationships with large global retailers for its home textile business.

Ratings further factor its comfortable capital structure and debt coverage indicators, strong liquidity and fiscal incentives available for textile sector.

However, the long-term rating is tempered by moderation in the company's operating profitability in FY24 (refers to April...