CRISIL updates on ratings of Antony Lara Enviro Solutions Private Limited

CRISIL Ratings has assigned its 'CRISIL A2' rating to the short-term bank facilities of Antony Lara Enviro Solutions Private Limited (ALESPL) material subsidiary company of Antony Waste Handling Cell Limited and reaffirmed its 'CRISIL BBB+/Stable' rating on the long term bank facility.

CRISIL Ratings had earlier assigned its 'CRISIL BBB+/Stable' rating on the long-term bank facilities of ALESPL vide rating rationale dated June 30, 2021.

The ratings continue to reflect ALESPL's extensive industry experience of the promoters, long term revenue visibility supported by agreement with Municipal Corporation of Greater Mumbai (MCGM), moderate working capital cycle, adequate debt service coverage ratio (DSCR) coupled with escrow mechanism and adequate liquidity. These strengths are partially offset by vulnerability to adverse changes in government regulations and susceptibility of operating margins to variation in waste quantity and input costs.

Source : Equity Bulls

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