Apollo Micro Systems announced that ICRA has revised its credit rating
i.e. Long Term Rating to [ICRA] BBB- (pronounced ICRA triple B minus) from [ICRA]
BBB (pronounced ICRA triple B) and the short term rating to [ICRA] A3 (pronounced
ICRA A three) from [ICRA A3+] (pronounced ICRA A three plus), to Rs 142 crore Line
of Credit of the Company. The outlook on Long Term Rating has been revised to
'Negative' from 'Stable' due to deterioration in working capital cycle owing to an
increase in debtor days, high inventory holding, and lower creditors. The aforesaid
ratings will be due for surveillance anytime before 30 April 2020.
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