CARE revises Asian Star outlook to Stable, rating reaffirmed
ASTAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.0 pts more than Nifty Microcap 250 and 5.4 pts more than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CARE Ratings has reaffirmed Asian Star's credit rating at CARE A- for long term and CARE A2+ for short term bank facilities. The outlook has been revised from Negative to Stable, indicating an improvement in credit view. Total bank facilities stand at Rs 884.50 crore, reduced from Rs 980 crore earlier, suggesting some debt repayment or facility closure.
Outlook upgrade to Stable signals lower default risk and may support borrowing terms. Debt also fell by about Rs 95.5 crore.