Credit rating agency, ICRA has reaffirmed ‘A-‘ rating outstanding on the outstanding Rs 50 crore fund based facilities of Sundaram Brake Linings and has stated that the outlook on the long-term is stable.
The credit rating agency has also reaffirmed the short-term rating of ‘A2+’ for Rs 35 crore fund based Export Packing Credit facilities and the Rs 3 crores non-fund based facilities of the company.
Sundaram Brake Linings (SBL), a TVS Group company is now a fully Indian owned company manufacturing automotive, non-automotive and industrial friction materials. SBL products are extensively used in commercial vehicles, passenger cars, tractors (agricultural) and motor cycles.
