ABS Marine Services Receives CRISIL Credit Rating Upgrade; Long-Term Rating Upgraded to A-/Stable and Short-Term Rating to A2+
Mumbai (Maharashtra) [India], June 29: ABS Marine Services Limited (NSE: ABSMARINE), one of the leading maritime companies offering comprehensive services in Vessel Ownership, Ship Management, Marine and Port Services, has announced that CRISIL Ratings upgraded the Company’s bank facility ratings, reflecting its strong operating performance, healthy financial profile, and sustained business growth.
Revised Credit Ratings
- Long-Term Bank Facilities – CRISIL A-/Stable (Upgraded from CRISIL BBB+/Stable)
- Short-Term Bank Facilities – CRISIL A2+ (Upgraded from CRISIL A2)
The upgrade reflects the Company’s strong and sustained improvement in operating and financial performance, supported by robust revenue growth, improving profitability, healthy cash flows from long-term charter contracts, and a strong financial risk profile. CRISIL has also enhanced the total bank loan facilities rated to ₹505.50 crore from ₹370.50 crore.
According to CRISIL, the upgrade is driven by the company’s established market position in the shipping services industry, long-term contracts with reputed clients including ONGC and Schlumberger, strong operating margins, comfortable debt protection metrics, and healthy liquidity. The rating agency has also highlighted the company’s growing charter business, expanding fleet, and strong revenue visibility backed by long-term contracts.
