(ADPnews) - Jan 28, 2011 - Indian rating agency CRISIL yesterday assigned a BB- rating with a "stable" outlook on a cash credit of Apra Enterprises, while rating a letter of credit of the company at P4+.
The agency issued the following press release:
Rs.50.00 Million Cash Credit BB-/Stable (Assigned)
Rs.150.0 Million Letter of Credit P4+ (Assigned)
CRISIL has assigned its CyBB-/Stable/P4+' ratings to the bank facilities of Apra Enterprises (AE). The ratings reflect AE's average financial risk profile, marked by high total outside liabilities to tangible net worth ratio and weak debt protection metrics. These rating weaknesses are partially offset …
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