ICRA assigns long-term issuer rating of AA- to Amber Enterprises; Stock soars 6%

The Outlook on the long-term rating is ‘Stable’. Amber is expected to maintain a strong credit profile.

Jun 23, 2021 09:06 IST India Infoline News Service

Amber Enterprises
The Rating Committee of ICRA has assigned a long-term rating of ICRA AA- to Amber Enterprises India Limited. The Outlook on the long-term rating is “Stable”.

“It reflects ICRA’s expectation that despite the adverse impact of Covid-19 in the near-term, Amber is expected to maintain a strong credit profile, supported by its resilient business profile, low external borrowings, comfortable capital structure and healthy liquidity position,” company said in a filing on Tuesday.

During early trade on Wednesday, Amber Enterprises India Ltd stock was currently trading at Rs2,949.80 up by Rs169.7 or 6.1% from its previous closing of Rs2,780.10 on the BSE. The stock hit a day's high of Rs2972.45 per piece so far. 

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