Sundaram Brake Linings Limited has informed the Exchange about Credit Rating- Revision
SUNDRMBRAK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA has reaffirmed the credit ratings of Sundaram Brake Linings Limited but revised the outlook on its long-term facilities from Stable to Negative. The long-term rating of [ICRA]BBB+ (Negative) covers bank facilities totaling Rs. 110 crore — a Rs. 25 crore term loan from SBI and Rs. 85 crore in cash credit and working capital facilities (SBI and Standard Chartered Bank). The short-term rating of [ICRA]A2 has been reaffirmed for non-fund based limits of Rs. 4.07 crore. Total rated amount stands at Rs. 114.07 crore. While the rating itself has not been cut, the negative outlook is a warning that ICRA sees potential headwinds and may consider a downgrade if conditions deteriorate.
Mildly negative for shareholders — the company retains its investment-grade BBB+ rating, but the shift to a Negative outlook signals that ICRA is watching for risks; this could translate into higher borrowing costs or tighter credit terms if the outlook worsens further.