ICRA reaffirms LA- rating outstanding on fund based facilities of Sundaram Brake Linings

Credit rating agency, ICRA has reaffirmed the LA- rating outstanding on Rs 40 crore fund based facilities of Sundaram Brake Linings and has stated that the outlook on the long-term is stable. The rating agency has also re-affirmed the A1 rating outstanding on the Rs 35 crore fund based Export Packing Credit facilities and the Rs 3 crores non-fund based facilities of the company.

Further, ICRA has withdrawn the LA- rating outstanding on the Rs 3.68 crore term loan facility, at the request of the Company, since the instrument has been repaid in full.

Sundaram Brake Linings is mainly engaged in manufacture of friction materials like Brake linings, Break Pads, Disk Brake pads, Clutches and Parts. The company has four manufacturing plants with two plants dedicated exclusively to manufacturing asbestos-free brake linings and pads.