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APL Apollo Tubes shares climb 2% after ICRA reaffirms ratings

Rating agency ICRA reaffirmed "ICRA AA-" as long-term rating and "ICRA A1+" as short term rating for Rs 1,327.51 crore line of credit of the company.

November 21, 2019 / 12:55 PM IST
 
 
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Shares of APL Apollo Tubes climbed over 2 percent on BSE on November 21 after the company said ICRA reaffirmed the company's long and short-term ratings.

Rating agency ICRA reaffirmed "ICRA AA-" as long-term rating and "ICRA A1+" as short term rating for Rs 1,327.51 crore line of credit of the company.

ICRA also assigned a long-term rating of "ICRA AA-" and short term rating of "ICRA Al+" to the additional limit of Rs 360.49 crore bank facilities. The outlook on the long term rating is stable.

Shares of APL Apollo Tubes traded 1.60 percent up at Rs 1,563 on BSE around 12:50 hours IST.
Moneycontrol News
first published: Nov 21, 2019 12:55 pm

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