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ICRA reaffirms ratings of Blue Dart Express' bank facilities; Stock jumps 2.5%

ICRA’s Stable outlook factors in the company’s established position in the market.

December 30, 2021 11:50 IST | India Infoline News Service
Blue Dart Express
Blue Dart Express Ltd has informed that ICRA has reaffirmed the long-term rating at [ICRA] AA and short-term rating at [ICRA] A1+ assigned to the company's bank facilities. The outlook on the long-term rating is Stable.

As per rationale report, the ratings reaffirmation continues to factor in the leadership position of BDEL in the domestic air express segment, its expanding ground express segment, strong control over operations supported by dedicated ground and air infrastructure and the state-of-the-art technology backbone ensuring high service standards.

The rating also takes into account the company’s improved performance in FY2021 and H1 FY2022 due to higher-than-expected revival of the economy post the lockdown in Q1 FY2021.

ICRA’s Stable outlook factors in the company’s established position in the market, strong customer base and its healthy financial profile.

At around 11:51 AM, Blue Dart Express was trading at Rs6,350.35 apiece up by Rs157.2 or 2.54% on the BSE.

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