(ADPnews) - Sep 27, 2010 - Fitch confirmed on Monday the national long-term AA-(ind) rating with a "stable" outlook of Indian auto parts maker Shriram Pistons and Rings Ltd.
The agency also upheld the AA-(ind) ratings on the company's INR 300 million (USD 6.6m/EUR 4.9m) term loans and INR 500 million fund-based working capital limits, as well as the F1+(ind) ratings on its INR 900 million non-fund based working capital limits and INR 100 million commercial paper programme.
The ratings are underpinned by the company's ability to consistently sustain strong operating profitability and healthy financial leverage over the past eight years, Fitch explained.
The …
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