ICRA revises credit ratings on MTAR Tech's bank facilities

11 Jan 2022 , 01:10 PM

MTAR Technologies Ltd has informed that based on rating assessment undertaken by ICRA Limited, the credit rating of the Company has been revised.

The long-term rating has been revised to [ICRA] A/Stable upgraded from [ICRA] A-/Positive while short-term rating has been revised to [ICRA] A1.

The rating upgrade factors in the continued improvement in MTAR Technologies Limited’s (MTL) financial risk profile, led by healthy revenue growth and profit margins along with a comfortable liquidity position.

The ratings continue to draw comfort from the extensive experience of the promoters and the company’s track record in the precision engineering industry.

The Stable outlook reflects ICRA’s expectations that the company would continue to maintain its credit profile with an improvement in revenue, profit margins and overall liquidity position.

At around 1:11 PM, MTAR Tech was trading at Rs2314.60 per piece up by 0.43% on the BSE.