Crisil upgrades Sterlite Technologies rating from AA- to AA
STLTECH · price
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Crisil upgraded Sterlite Technologies long-term credit rating from AA- to AA with Stable outlook for bank loan facilities and three non-convertible debentures totalling Rs 390 crore. Short-term commercial paper rating of A1+ was reaffirmed. Bank loan facility size was reduced from Rs 4,045 crore to Rs 3,564 crore, indicating debt repayment.
Positive for shareholders — stronger credit profile, likely lower future borrowing costs, and signals improving financial health and debt reduction.