Emerging Credit Rating Limited (hereinafter referred as ‘ECRL’) has affirmed BBB- (Pronounced as Triple B minus) long term credit rating and ST-3 short term credit rating to Apparel Plus Limited. The outlook on the rating is Stable.The rating is based on audited financial statements of FY 2019-FY2021 and unaudited financial statement of FY2022 along with other qualitative and quantitative information up to the date of rating.