CARE reaffirms credit rating of Axiscades' banking facilities

24 Jan 2022 , 05:11 PM

Axiscades Technologies Ltd. announced that the credit rating agency firm CARE has assigned the credit rating to the company’s overall Bank Borrowings for an aggregate amount of Rs 92.81 crores.

CARE has assigned ‘CARE BBB’ ratings to the companies long-term banking facilities. While it has assigned ‘CARE A3’ rating to its short-term banking facilities. It also mentioned that all banking facilities continues to be on credit watch with developing implications.

AXISCADES is a technology solutions company focussing on engineering solutions and services. We bring expertise that caters to the engineering, technology, manufacturing and digital needs of fortune 100 clients in aerospace, defence, heavy engineering, automotive, energy & medical equipment sectors. With decades of experience in creating innovative, sustainable and safer products worldwide, AXISCADES delivers business value across the entire engineering lifecycle.

Axiscades closed at Rs 118 today, down by Rs 6.20 or 4.99% since its previous closing price of Rs 124.20. The share touched a intraday high and low of Rs 124.40 and Rs 118 respectively, throughout the day.