Brickwork reaffirms credit rating for bank loan facilities for Aarvee Denims & Exports; Stock slumps 4.5%

The rating on fund-based working capital Rs292.68cr long-term of the company has been reaffirmed to BWR B +/ Stable.

Sep 01, 2021 10:09 IST India Infoline News Service

Brickwork Ratings India Private Limited has reaffirmed the rating for bank loan facilities of Aarvee Denims & Exports Limited aggregating Rs311.97cr.

The rating on fund-based working capital Rs292.68cr long-term has been reaffirmed to BWR B +/ Stable. The credit rating agency also reaffirmed the rating on NF-based working capital Rs19.29cr short-term at BWR A4.

At around 10.42 AM, Aarvee Denims & Exports Ltd was trading at Rs18.15 per piece down by Rs0.85 or 4.47% from its previous closing of Rs19 per piece on the BSE.
The scrip opened at Rs18.10 and has touched a high and low of Rs19 and Rs18.10 respectively. 

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