Crisil assigns A/stable rating to long-term bank facilities of Snowman Logistics ANI | Updated: Apr 20, 2021 17:57 IST
Mumbai (Maharashtra) [India], Apr 20 (ANI): Crisil has assigned A/stable rating to long-term bank facilities of Snowman Logistics, reflecting its established market position in the temperature-controlled logistics segment and benefits from continued parentage due to operational and strategic linkages with its parent Gateway Distriparks Ltd (GDL).
But these strengths are partially offset by exposure to funding risks related to capex, susceptibility to competition and volatility in end-user segments.
Post settlement of agreement between Snowman and Adani Logistics Ltd in July last year, GDL is the single largest owner with 40.25 per cent stake in the company and substantial control on the board.