Credit rating agency, ICRA has reaffirmed the long term rating assigned to the bank facilities of Munjal Auto Industries at AA- for the Rs 62.9 crore term loans and Rs 11.0 crore cash credit fund-based bank limits. The outlook on long term rating is stable. The rating agency has also reaffirmed an A1+ rating to Rs 11.1 crore non-fund based, Rs 5.0 crore fund based short term bank facilities and Rs 15.0 crore commercial paper of the company.
Munjal Auto is the leading auto component manufacturing company in India producing exhaust systems, complete wheel rims and other automotive assemblies.
