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CRISIL upgrades rating of Shivam Autotech’s bank facilities

24 Jun 2013 Evaluate

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.

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