Sterlite Technologies’ Long Term Credit Rating Outlook Revised to Stable by CRISIL
Sterlite Technologies Ltd has received a significant revision of its credit rating from CRISIL, with the outlook for its long-term instruments being revised to 'Stable' and the ratings reaffirmed across various debt facilities.The ratings update addresses the company's financing profile, providing stability on key lending instruments. The Long Term Rating was specifically upgraded in outlook from 'Negative,' while several other dedicated debt categories were also reaffirmed with a stable outlook.
Sterlite Technologies provided the following details regarding its rated facilities and corresponding ratings:
| Debt Instrument | Credit Rating (Crisil) | Status/Details |
|---|---|---|
| Total Bank Loan Facilities Rated | N/A | Rs. 4045 Crore |
| Long Term Rating | AA-/Stable | Outlook revised from 'Negative'; Rating Reaffirmed |
| Non Convertible Debentures (Rs.100 Crore) | AA-/Stable | Outlook revised from 'Negative'; Rating Reaffirmed |
| Non Convertible Debentures (Rs.90 Crore) | AA-/Stable | Outlook revised from 'Negative'; Rating Reaffirmed |
| Non Convertible Debentures (Rs.200 Crore) | AA-/Stable | Outlook revised from 'Negative'; Rating Reaffirmed |
| Commercial Paper | A1+ | Reaffirmed |
The ratings reaffirmation and outlook revision apply to multiple debt instruments, including various tranches of Non Convertible Debentures and the company’s Commercial Paper. The details regarding the rating rationale are available through CRISIL's rating documentation.
STLTECH Stock Price Movement
As of 3:20 PM, Sterlite Technologies Limited shares are slipping by 1.22% in live trading, currently priced at ₹617.05 as they shed ₹7.65 per share. The stock has seen a traded volume of 2.66 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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