Steel Strips Wheels Limited - Credit Rating

19 Jul 2022 , 12:00 AM

Steel Strips Wheels Limited has informed the Exchange about Upgrade of Credit Rating. Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 with respect to upgradation in credit rating(s), we wish to inform you that India Ratings and Research (Ind-Ra) (a 100% owned subsidiary of the Fitch Group) vide its press release dated 18.07.2022, has upgraded Steel Strips Wheels Limited???s Long Term Issuer Rating ???IND A+??? from ???IND A-??? and the Outlook is Stable. The Instrument wise rating actions are as follows: Instrument Type Maturity Date Size of Issue (million) Rating/ Outlook Rating ActionFund-based working capital limits – INR 3,000 IND A+/Stable/IND A1 UpgradedTerm loans FY 2028 INR 3,743 (reduced from INR 5,400) IND A+/Stable UpgradedNon-fund-based Working Capital Limits – INR 5,750 IND A+/Stable /IND A1 UpgradedThe upgrade follows SSWL???s healthy operating performance and improvement in credit metrics in FY22.The above rating can be accessed at India Ratings and Research??? website at:https://www.indiaratings.co.in/pressrelease/58986