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PNN
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. Commenting on the development, Captain P.B. Narayanan, Managing Director of ABS Marine Limited, said, "We are delighted with the upgrade in our credit ratings by CRISIL, which reflects the sustained progress we have made in strengthening our operational performance and financial profile. This recognition underscores the resilience of our business model, the quality of our long-term customer relationships, and our disciplined approach towards growth. As we continue to expand our fleet and strengthen our offshore services portfolio, this rating upgrade further reinforces the confidence of our banking partners, customers, and investors. We remain committed to delivering sustainable growth while maintaining prudent financial management and operational excellence." About ABS Marine Services LimitedABS Marine Services Limited, established in 1992 and headquartered in Chennai, is one of the leading maritime companies specializing in Ship Management, Vessel Ownership, Marine, and Port Services. With offices in Mumbai, Kochi, Singapore, and Kakinada, ABS provides comprehensive maritime solutions worldwide, emphasizing professionalism, local expertise, and regulatory compliance for efficient operations. With over three decades of experience in third-party technical and crew management, the company focuses strongly on safety and energy conservation both onboard and ashore, driving excellence in the maritime industry. For FY26, the Company has reported Consolidated Total Income of 322.64 Cr, EBITDA of 152.55 Cr & Net Profit of 80.80 Cr on consolidated basis. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
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