Andrew Yule & Company has informed that Acuite Ratings and Research has upgraded the long-term rating from ‘ACUITÉ C’ (read as ACUITÉ C) to 'ACUITÉ B’ (read as ACUITÉ B) on the Rs. 28.26 crore bank facilities of Andrew Yule & Co. Ltd. (AYCL) and reaffirmed the short-term rating of ‘ACUITÉ A4’ (read as ACUITÉ A Four) on the Rs. 38.10 crore bank facilities of AYCL. The outlook is ‘Stable’. Acuite has assigned the long-term rating of 'ACUITÉ B’ (read as ACUITÉ B) on the Rs. 86.38 crore bank facilities of AYCL and the short-term rating of 'ACUITÉ A4’ (read as ACUITÉ A Four) on the Rs. 2.26 crore bank facilities of AYCL. The outlook is ‘Stable’. The rating upgrade and transition from ‘Issuer non-cooperating’ reflects the regularization of earlier delays as was reported by Credit Bureau Information. The rating further takes into account the decreasing operating income and EBDITA losses, albeit moderate financial risk profile and stretched liquidity. The rating also factors the benefits derived from diversified revenue segments and business acumen of management.
The above information is a part of company’s filings submitted to BSE.
