Fitch ratings has upgraded India-based Sterling Tools Limited’s (STL) National Long-Term rating to ‘A-(ind)’ from ‘BBB+(ind)’.
The Outlook is Stable. The agency has also upgraded STL’s instruments, as follows:– INR236.3m long-term debt: upgraded to ‘A-(ind)’ from ‘BBB+(ind)’;
– INR450m fund-based working capital limits: upgraded to ‘A-(ind)’ from ‘BBB+(ind)’ and affirmed at ‘F2+(ind)’; and
– INR210m non-fund based …
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