CRISIL reaffirms Sterlite Technologies' credit rating; Revises outlook to negative

3 Feb 2022 , 02:45 PM

In its regulatory filing, Sterlite Technologies Limited mentioned that the credit rating agency CRISIL Limited has reaffirmed the credit rating for the company’s debt instruments.

CRISIL has assigned CRISIL AA/Negative rating to its Long-term bank loan facilities worth Rs 4,950 crore. Credit rating to the company’s Non-Convertible Debentures worth 440 crores has been assigned as CRISIL AA/Negative. However, the company’s commercial paper worth Rs 800 crore has been assigned the CRISIL A1+ rating.

The rating agency has downgraded the outlook from earlier stable to now negative for the company’s debt instruments.

Sterlite Technologies was the last trading at Rs 214.65 per piece at around 2.43 PM, against its previous closing price of Rs 210.65 per piece, up by Rs 4 or 1.90%.

It has touched day’s high and low of Rs 219.70 and Rs 209 respectively, so far in today’s trade.