Sterlite Technologies Limited has informed the Exchange about Credit Rating
STLTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CRISIL has removed its 'Rating Watch with Negative Implications' on Sterlite Technologies and reaffirmed the company's credit ratings. The long-term rating has been reaffirmed at CRISIL AA-/Negative across bank loan facilities and non-convertible debentures, while the commercial paper rating is reaffirmed at CRISIL A1+. The total bank loan facilities rated stand at Rs. 4,045 crore, significantly reduced from the earlier Rs. 5,767 crore. This indicates improvement in the company's financial profile and reduction in overall debt levels.
Positive for shareholders — removal of negative watch and the sharp reduction in rated bank loan facilities (from Rs. 5,767 cr to Rs. 4,045 cr) suggest improving financial health and debt reduction, though the negative outlook remains in place.