Credit rating agency, CRISIL has upgraded its ratings on the long term bank facilities of Shivam Autotech to ‘BBB’ from ‘BB+’. The rating agency has also upgraded its ratings on the company’s short term bank facilities to ‘A3+’ from ‘A4+’. The company has received the said rating up-gradation on the back of its robust margins along with lower interest cost.
Shivam Autotech is engaged in manufacturing transmission gears, transmission shafts, and various other components for two-wheelers, and plungers used in fuel pumps in passenger cars.
