Steel Strip Wheels announced that India Ratings and Research has revised the company's long term issuer ratings to 'IND A-' from 'IND BBB+' and the outlook is positive. The instrument-wise actions are as under:
Fund based working capital limits (Rs 300 cr) - IND A-/Positive/ IND A2+ (upgraded)
Term loan (Rs 540 cr) - IND A-/Positive (upgraded)
Non fund based working capital limit (Rs 455 cr) - IND A-/ Positive/ IND A2+ (upgraded)
Proposed non-fund based working capital limits (Rs 120 cr)- IND A-/ Positive / IND A2+ (assigned)
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