Popular Vehicles & Services Ltd. has announced that Care Ratings Limited (Care Edge Ratings) has taken rating actions regarding the bank facilities of its wholly-owned subsidiary, Popular Autoworks Private Limited (PAPL), as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Specifically, Care Ratings reaffirmed the rating of CARE A-; Stable / CARE A2+ for long-term and short-term bank facilities amounting to Rs 105.70 Crores (enhanced from Rs 95.70 Crores), assigned a new rating of CARE A-; Stable for long-term bank facilities on an amount of Rs 7.50 Crores, and reaffirmed the rating of CARE A-; Stable for long-term bank facilities on an amount of Rs 15.50 Crores (enhanced from Rs 2.50 Crores), with the upgraded rating also available on the Care Ratings website.
