Credit Rating

AXISCADES Technologies Limited announced that CARE Ratings has placed its long-term and long-term/short-term bank facilities, totaling ₹101 crore, on "Rating Watch with Developing Implications." This action follows the company's prior intimations regarding the divestment of its 'Engineering Services' business. The current ratings are CARE A- (RWD) and CARE A- / CARE A2+ (RWD), indicating that the ratings could be upgraded, downgraded, or affirmed based on the ongoing review of the strategic divestment.