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Asian Energy Services Ltd announced that Crisil Ratings Limited (“CRISIL”) has maintained its ‘Watch Developing’ rating on the banking facilities of the company, dated October 27, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The total bank loan facilities rated amount to INR 317.5 Crore, comprising a long-term rating of Crisil BBB+/Watch Developing (Continues on ‘Rating Watch with Developing Implications’) for fund-based facilities and a short-term rating of Crisil A2/Watch Developing (Continues on 'Rating Watch with Developing Implications') for non-fund-based facilities; this placement on ‘Rating Watch with Developing Implications’ was initially implemented by Crisil Ratings on September 09, 2025, following an announcement regarding the merger of Oilmax Energy Pvt Ltd (OEPL) into Asian Energy Services Limited, and CRISIL will continue to monitor the progress of the merger and resolve the watch with appropriate rating action post-completion and clarity on OEPL's performance, with the detailed rationale accessible at www.crisilratings.com.
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