VRL Logistics informs about credit rating
Pursuant to Regulation 30, read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, VRL Logistics has informed that ICRA has revised the Long-term Fund-based-Term Loan and Long-term Fund-based-Working Capital Loan related Credit rating of the Company from [ICRA] A+ Stable to [ICRA] A+ Positive. The revision in the outlook on the long-term rating of the company (VRL) to Positive factors in the expectation that the company will sustain the growth momentum in its core goods transport business, supported by expansion in its fleet and branch network. Coupled with recent revision in freight rates as well as VRL’s exit from a low-margin business, this will lead to improved profitability over historical levels in the near to medium term.
The above information is a part of company’s filings submitted to BSE.
