Automotive Stampings and Assemblies Limited has informed the Exchange about Credit Rating- Revision
ASAL · price
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CRISIL has reviewed the credit ratings on bank loan facilities of Automotive Stampings and Assemblies Limited (ASAL), a Tata Group company, totalling Rs. 169 crore. The long-term rating stands at CRISIL A-/Stable and the short-term rating at CRISIL A2+. The facilities are spread across HDFC Bank (cash credit, letters of credit), Axis Bank (fund-based facilities, letters of credit), and Kotak Mahindra Bank (working capital demand loan and working capital facility). The announcement relates to a revision of ratings under SEBI's Listing Obligations and Disclosure Requirements. The current ratings of A-/Stable and A2+ are in the investment-grade category, indicating adequate to strong capacity to meet financial obligations.
The current ratings suggest stable creditworthiness with adequate capacity to service debt. Since this is filed as a 'Credit Rating Revision', investors should check for prior rating history to understand the direction of the change. The investment-grade ratings imply continued access to bank funding at reasonable costs.