VRL Logistics receives revision in outlook on LT credit rating

VRL Logistics (VRL) announced that 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 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.

 

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