CRISIL reaffirms 'AA-/Stable' rating on TCI Express' long term bank facilities

CRISIL Ratings believes TCI Express will maintain its strong financial risk profile over the medium term.

Jun 17, 2021 12:06 IST India Infoline News Service

CRISIL ratings has re-affirmed the credit rating of TCI Express Ltd  in respect of Bank Loan facilities worth Rs100cr as “AA-” with stable outlook.

CRISIL Ratings on the long-term bank facilities of the company continues to reflect the company’s healthy operating efficiency, strong market position and healthy financial risk profile.

These strengths are partially offset by its modest scale of operations, low cash flow diversity and exposure to intense competition.

CRISIL Ratings believes TCI Express will maintain its strong financial risk profile over the medium term.

At around 12:10 PM, TCI Express was trading at Rs1,477.45 apiece up by Rs8.45 or 0.58% from its previous closing of Rs1,469 apiece on the BSE.

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