 "Ola")
Rating agency Standard and Poor’s (S&P) has affirmed ANI Technologies Ltd’s (ANI Tech) “B-” speculative grade rating on adequate liquidity.The company, ANI Tech, is the operator of ride-hailing platform OLA Cabs.
India-based ANI Technologies Pte Ltd is scaling back its growth aspirations in loss-making segments to reduce capital requirements. At the same time, the company announced a liability management exercise targeting a buyback of $250 million of its guaranteed senior secured term loan--a move deemed to be opportunistic.
S&P said it expected ANI Tech to have sufficient liquidity for at least the next 24 months to bear operating losses until
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