CRISIL reaffirms 'A' rating to long-term borrowings’ of Automotive Stampings

Credit rating agency, CRISIL has reaffirmed ‘A’ rating with stable outlook to the long-term borrowings of Automotive Stampings and Assemblies. Moreover, the rating agency has also reaffirmed A1 rating to short-term borrowings of the company.

Automotive Stampings and Assemblies is into the production of a wide range of sheet metal components for the automotive industry. Its product mix can be broadly classified into three categories: (i) Structural Panels and Skin Panels for the vehicle body (BIW) (ii) Modules and Aggregates including Chassis sub-assemblies (Under body) (iii) Oil Sumps and Fuel tanks. Its products mainly cater to passenger and commercial vehicles.