Credit rating agency, ICRA has reaffirmed ‘A -’ rating outstanding on the Rs 40 crore fund based facilities of Sundaram Brake Linings and has stated that the outlook on the long-term is stable.
Further, the rating agency has downgraded the short-term rating to ‘A2+’ from the existing rating of ‘A1’ for the Rs 35 crore fund based Export Packing Credit facilities and the Rs 3 crore 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.
