Re-affirmation of rating with respect to the Long term and Short term bank facility.
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CARE Ratings has re-affirmed the credit ratings assigned to Apis India's bank facilities. The long-term bank facility rating of CARE BBB; Stable has been re-affirmed, with the facility amount revised upward from Rs. 53.44 crore to Rs. 58.94 crore. The short-term bank facility rating of CARE A3+ has also been re-affirmed, with the amount revised downward from Rs. 43.50 crore to Rs. 38.00 crore. Both ratings remain unchanged, indicating stable credit quality and continued lender confidence in the company.
The re-affirmation of investment-grade ratings (BBB Stable for long-term, A3+ for short-term) suggests Apis India's credit profile remains stable with no deterioration in lender perception. The increase in long-term facility limit provides additional borrowing headroom for the company.