Maharashtra Seamless upgrade in LT credit ratings

11 Sep 2022 , 01:33 AM

Maharashtra Seamless has received revision in credit ratings from ICRA as under 1 Upgraded the long term credit rating to [ICRA] AA from [ICRA] AA- 2Reaffirmed the short-term rating at [ICRA] A1 3 Given a Stable outlook on long term credit rating The long-term rating upgrade factors in the Companys stellar performance in FY2022 undeterred by 2 waves of COVID-19 coupled with an improvement in its liquidity position The rating upgrade also factors in the Companys reduced focus on non-core businesses and deleveraging guidance The ratings assigned indicate high degree of safety regarding timely servicing of financial obligations and very low credit risk