Credit Rating Agency -- ICRA has reaffirmed Jamna Auto Industries’ long-term rating at ‘AA-’ and the short-term rating at ‘A1+’. The rating agency has also reaffirmed rating of company’s commercial paper at ‘A1+’. Outlook on the long-term rating is kept negative.
Jamna Auto is the largest manufacturer of tapered leaf springs and parabolic springs for commercial vehicles in India and is the number one supplier to Tata Motors (TML) and Ashok Leyland (ALL), the two major commercial vehicle manufacturers in Indian market for over 54 years.
