Credit rating agency, CRISIL has revised its long term rating on the bank facilities and other debt programmes of Apollo Tyres to ‘AA’ from ‘A’ and short-term rating to ‘A1+’ from ‘A1’. The present long-term outlook of the company is stable.
Apollo Tyres produces the entire range of automotive tyres for ultra and high speed passenger cars, truck and bus, farm, off-the-road, industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo’s eight manufacturing locations in India, Netherlands and Southern Africa.
