News Details

Apis India Ltd announced reaffirmations and assignments across various debt instruments by multiple rating agencies. CARE Ratings Limited reaffirmed the ratings for Long Term Bank Facilities at Rs 57.07 crore with a CARE BBB; Stable outlook, revised from Rs 58.94 crore, and reaffirmed the Short Term Bank Facilities at Rs 38.00 crore with a CARE A3+ rating; CARE also reaffirmed Long Term Bank Loan facilities at Rs 200 crore with a CARE A+; Stable outlook, and reaffirmed Term Loans from Standard Chartered Bank (repayment by May'29) for Rs 1.95 crore and Term Loans from Canara Bank (repayment by Dec'27 and Nov'27) for Rs 1.40 crore and Rs 0.16 crore respectively, alongside reaffirming Fund Based Limits from Standard Chartered Bank (Rs 22.00 crore), Canara Bank (Rs 16.00 crore and Rs 35.00 crore), and Proposed Fund Based Limits (Rs 15.56 crore), and Non-Fund Based Limits from Standard Chartered Bank (Rs 3.00 crore); BWR has assigned a BWR A1+ rating to Bank Loan facilities, while ICRA reaffirmed a Long Term Bank Loan of Rs 100 crore at [ICRA]BB+, CRISIL assigned a BB/Stable rating to Long Term Debt, and CareEdge Ratings reflected opinions on bank facilities/instruments as of a specific date, noting that ratings may be revised/reaffirmed/withdrawn based on periodic review, with some bank facilities currently under review and classified as ISSUER NOT COOPERATING.