CRISIL reaffirms rating on Sundram Fasteners' credit facilities; Stock soars over 1.5%

21 Jul 2022 , 11:16 AM

Sundram Fasteners Ltd (SFL) has informed that CRISIL Limited, credit rating agency, on July 19, 2022 has re-affirmed the rating for the following instruments of the Company.

CRISIL has reaffirmed its ‘CRISIL A1+’ rating on the short-term debt and commercial paper programme of the company.

The ratings continue to reflect SFL’s leading market position in the fasteners industry and for arriving at its rating, CRISIL has combined the business and financial risk profiles of SFL and its subsidiaries with significant operational and financial linkages.

At around 11:17 AM, Sundram Fasteners was trading at Rs804.45 per share up by Rs12.1 or 1.53% from its previous closing of Rs792.35 per share on the BSE.