CRISIL reaffirms 'A1+' rating on Sundram Fasteners' short-term debt and commercial paper programme

For arriving at its rating, CRISIL has combined the business and financial risk profiles of SFL and its subsidiaries.

Oct 08, 2021 03:10 IST India Infoline News Service

Sundram Fasteners
CRISIL Ratings has reaffirmed its rating on the short-term debt and commercial paper programme of Sundram Fasteners Limited (SFL) at 'CRISIL A1+'.

The ratings continue to reflect SFL's leading market position in the fasteners industry, revenue diversity, healthy operating efficiency, and strong financial risk profile.

These rating strengths are partially offset by working capital-intensive operations, and moderate, albeit improving profitability of overseas subsidiaries, according to the rationale.

For arriving at its rating, CRISIL has combined the business and financial risk profiles of SFL and its subsidiaries.

On Friday, Sundram Fasteners ended at Rs947.50 apiece down by Rs6.95 or 0.73% on Sensex.

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