India Ratings and Research (Ind-Ra) has assigned Jet Freight Logistics Limited (JFLL) a Long-Term Issuer Rating of ‘IND BBB-’. The Outlook is Stable.
Short-term ratings has been assigned at IND A3.
The ratings reflect JFLL’s long operational track record with medium scale of operations and Ind-Ra’s expectation of a likely improvement in the credit metrics in FY22.
However, the ratings are constrained by the company’s stretched liquidity position and moderate financial risk as its EBITDA margins are dependent on the availability of incentive from airline service providers.
At around 1:48 PM, Jet Freight Logistics was trading at Rs70.15 per piece lower by 3.04% on Sensex.
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