Ind-Ra revises Aegis Logistics’ outlook to Positive, affirms at 'IND AA'

The Positive Outlook reflects Ind-Ra’s expectation of an improvement in the company’s scale of operations.

Sep 17, 2021 09:09 IST India Infoline News Service

Aegis Logistics hits 52-week high
India Ratings and Research (Ind-Ra) has revised Aegis Logistics Limited’s (AELL) Outlook to Positive from Stable, while affirming its Long-Term Issuer Rating at ‘IND AA’.

Further, Ind-Ra continues to take a consolidated view of AELL and its subsidiaries, given the integrated nature of their operations, the strong strategic linkages and the fungibility of cash flows among them.

According to the Rationale, the Positive Outlook reflects Ind-Ra’s expectation of an improvement in the company’s scale of operations post the formation of the joint venture (JV) with Royal Vopak N.V (Vopak) and the completion of the ongoing capex.

Given the growth ambitions, Ind-Ra will continue to monitor the capex developments and the leverage that could follow.

On Friday at around 9:24 AM, Aegis Logistics was trading at Rs240 per piece higher by 0.48% on the BSE.

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