Allied Digital Services Ltd updates on credit rating

Allied Digital Services Limited, a leading Global IT Services and Solutions Provider, has stated that Acuité Ratings & Research Limited ("Acuite Ratings") has assigned a long-term rating of 'ACUITE BBB' (ACUITE triple B) and a short-term rating of 'ACUITE A3+' (ACUITE A three plus) to its bank facilities against the earlier rating of BBB- for Long-term and A3 for Short-term facilities by Brickwork Ratings. The outlook is 'Stable'.

Acuite Ratings has indicated that the improved ratings take into account the established track record of over 3 decades in the IT Industry for the Allied Group, comprising Allied Digital and its subsidiaries. The Ratings also derive strength from the healthy financial risk profile and strong operating performance supported by diverse revenue streams of ADSL and its subsidiaries. On account of healthy cash accruals with respect to the maturing debt obligations, the liquidity position is seen as adequate.

Shares of Allied Digital Services Limited was last trading in BSE at Rs. 100.95 as compared to the previous close of Rs. 94.00. The total number of shares traded during the day was 55745 in over 878 trades.

The stock hit an intraday high of Rs. 103.90 and intraday low of 93.20. The net turnover during the day was Rs. 5591492.00.

Source : Equity Bulls

Keywords

AlliedDigitalServices INE102I01027 ADSL RatingUpdate