ABS Marine Sees CRISIL Credit Rating Upgrade

06 Jul 2026 CW Team

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger.

The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (mn) to Rs 5,055 mn. Reported net profit for the latest period stood at Rs 808 mn, supporting coverage indicators and liquidity buffers. Analysts noted that long term charters and consistent contract wins underpinned the revenue trajectory. The upgrade reflected disciplined capital allocation and improved margins across service lines.

Management highlighted ongoing fleet expansion and a strategic focus on charter services as contributors to the improved credit profile. Senior executives said that the company’s ties with major oilfield services clients reinforced predictable revenue streams. The ratings agency assessed governance, order book quality and risk management frameworks in reaching its decision. Continued emphasis on contract retention and operational efficiency is expected to sustain credit metrics.

The upgrade is likely to enhance ABS Marine’s access to capital and lower borrowing costs, bolstering investor confidence. Banks and bond investors may treat the higher rating as validation of the company’s recovery and renewed growth prospects. The company will monitor market conditions and pursue measured expansion while maintaining prudent leverage. Industry observers will track performance as ABS Marine implements its strategic plans in coming quarters.

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..

NHAI Projects to Ease Haridwar Traffic Ahead of Ardh Kumbh

The National Highways Authority of India (NHAI) is accelerating road works in Haridwar ahead of the Ardh Kumbh-2027 to smooth movement for pilgrims and residents. Two major projects, the Spur to Haridwar and the Haridwar Bypass (Package-I), have entered late construction stages and are being prioritised to reduce urban congestion. The measures form part of a phased plan to divert through traffic away from the city core. The 51-kilometre six-lane access-controlled Spur to Haridwar has recorded nearly 92 per cent physical progress with about 46 kilometres completed. The corridor will link the De..