ICRA reaffirms 'AA/Stable' credit ratings on India Motor Parts & Accessories

The rating committee has also reaffirmed the short term rating outstanding at [ICRA]A1+.

Apr 12, 2021 10:04 IST India Infoline News Service

ICRA rating agency has awarded India Motor Parts & Accessories Limited with its credit ratings.

ICRA, after due consideration has reaffirmed the long term rating outstanding on the Rs16.25cr LOC of the Company at [ICRA]AA with Stable outlook.

The rating committee has also reaffirmed the short term rating outstanding on the Rs16.25cr LOC at [ICRA]A1+.

These ratings indicates very low credit risk.

The reaffirmation in ratings considers India Motor Parts and Accessories Limited’s (IMPAL) established presence in the automotive spare parts and accessories distribution space and its superior liquidity position.

India Motor Parts and Accessories Limited (IMPAL) is a leading player in the distribution of automotive spare parts and accessories in India.

India Motor Parts & Accessories was trading at Rs650 apiece down by Rs26 or 3.85% from its previous closing of Rs676 apiece on the BSE, at around 10:43 AM.

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