Mumbai, April 3 -- The agency has also affirmed the company's short-term rating at 'CARE A1+'.

Care Edge Ratings stated that the reaffirmation of ratings assigned to Metro Brands Limited's (MBL or the Company) bank facilities is driven by the extensive experience of promoters and long-standing presence in the footwear industry.

MBL benefits from a well-established market position and a broad distribution network across India, contributing to consistent operational performance and a robust financial risk profile marked by ample liquidity and low gearing.

However, MBL faces challenges in the competitive and fragmented industry landscape dominated by unorganised players, and aggressive expansion by emerging brands and reliance on unorgani...