AAPMLAttribute Authority Policy Markup Language
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The agency also set an A3 rating to the INR33.2m short-term fund-based limits and INR17.5m short-term non-fund-based limits of AAPML.
The rating takes into account AAPML's reasonably strong operating position in the personal media industry characterised by a reputed customer profile and steady growth in business volumes as well as its sound profitability indicators.
The rating is however constrained by AAPML's modest scale of operations at present, stretched liquidity position on account of slow debtor realisation along with moderate uncertainty prevalent in the procurement of business through the tender route.