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India Ratings has affirmed and withdrawn the ‘IND AA-’/Stable/’IND A1+’ ratings on Campus Activewear Limited’s bank facilities after receiving no dues certificates. The affirmation reflects the company’s strong credit profile, supported by a net leverage of 0.5x, robust interest coverage at 13.8x, EBITDA margins near 14.5%, and steady revenue growth driven by premiumisation and brand expansion. Campus Activewear’s reduced dependence on external debt and cash reserves of INR144.6 Cr at 9MFY25 strengthen its financial position. The rating withdrawal indicates settled obligations, lowering monitoring, and supporting reduced borrowing costs and increased investor confidence.