Apollo Micro Systems Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
Acuité Ratings & Research has both assigned and upgraded credit ratings on Apollo Micro Systems' bank loan facilities. A long-term rating of ACUITE BBB+ with Stable outlook was assigned to bank loans of Rs. 144 crore and upgraded on an additional Rs. 308.50 crore. A short-term rating of ACUITE A2 was assigned to Rs. 65 crore of bank loans and upgraded on Rs. 85 crore. The upgrades indicate the rating agency views the company's credit profile and ability to repay debt more favourably than before. Total bank loan facilities covered under the rating action amount to Rs. 602.50 crore.
Positive signal for shareholders — rating upgrades reflect improved creditworthiness and may help the company secure future borrowings at better interest rates. BBB+ with Stable outlook is an investment-grade rating, which should support investor confidence.