CRISIL reaffirms ‘A1+' rating of Sundram Fasteners' debt instruments; stock marginally up

19 Apr 2022 , 10:00 AM

Sundram Fasteners Limited has informed the investors and exchanges that CRISIL Ratings Limited, the rating agency, has reviewed the debt instruments of the company. CRISIL has reaffirmed the rating of short-term debt and commercial papers of the company.

CRISIL has reaffirmed the rating at ‘CRISIL A1+’ for both the debt instruments.

Instruments with such ratings represent a higher degree of creditworthiness.

Short-term instruments reviewed by the rating agency were worth Rs25 crore, and commercial papers reviewed are worth Rs100 crore.

Sundram Fasteners is currently trading at Rs842.65 up by Rs1.6 or 0.19% from its previous closing of Rs841.05 on the BSE. The scrip opened at Rs836 and has touched day’s high and low of Rs848.45 and Rs836 respectively so far.