Lumax Auto Technologies Limited has informed the Exchange about Credit Rating
LUMAXTECH · price
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CRISIL Ratings has upgraded Lumax Auto Technologies' long-term credit rating from CRISIL AA-/Positive to CRISIL AA/Stable, indicating improved creditworthiness. The short-term and commercial paper rating of CRISIL A1+ has been re-affirmed, reflecting very strong safety on timely payment obligations. The total bank loan facilities rated stand at Rs. 332 Crore across multiple banks including HDFC Bank, ICICI Bank, YES Bank, Citibank, and Kotak Mahindra Bank. The Rs. 50 Crore commercial paper programme rating was also re-affirmed at CRISIL A1+. The outlook was revised from Positive to Stable, meaning CRISIL does not see further near-term upward movement but confirms strong fundamentals.
This upgrade is a positive signal for shareholders, reflecting CRISIL's improved confidence in the company's financial health and debt repayment ability. A higher credit rating may help the company borrow at lower interest rates, though the change in outlook from Positive to Stable tempers near-term further upgrade expectations.