Apollo Micro Systems Limited has informed the Exchange about Credit Rating
APOLLO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 0.7 pts less than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Apollo Micro Systems has received a one-notch upgrade in its credit ratings from Acuité Ratings. The long-term bank loan rating has moved from ACUITE BBB+ (Stable) to ACUITE A- (Stable), and the short-term rating has improved from ACUITE A2 to ACUITE A2+. The upgrade covers bank loan facilities totalling Rs. 602.5 crore across four facilities. The upgrade follows the company's appeal to the rating agency, which was supported by better performance, improved liquidity from a Rs. 742.25 crore preferential issue, and stronger future prospects.
This is a positive development for shareholders, as a higher credit rating lowers the company's future borrowing costs and signals improved financial health to lenders and investors. The stock may see a short-term positive reaction given the strengthened credit profile.