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Sundram Fasteners Ltd. Capital/Financing Update 2022
61204_rns_2022-01-13_f00609b2-3b2c-43f8-814d-fbeff1260076.pdf
Capital/Financing Update
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(ID Sundram Fasteners Limited REGISTERED & CORPORATE OFFICE
Email: [email protected]
98-A, VII FLOOR DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI - 600 004, INDIA TELEPHONE : +91 - 44 - 28478500 PAN : AAACS8779D CIN L35999TN1962PLC004943 WEBSITE : www.sundrom.com
January 13, 2022
National Stock Exchange of India Limited
Symbol - SUNDRMFAST Exchange Plaza, 5thFloor, Plot No. C/1, G Block, Bandra-Kurla Complex Bandra (East), Mumbai - 400 051
BSE Limited
Scrip Code - 500403 Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001
By Listing Centre
By NEAPS
Dear Sir / Madam,
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Intimation of re-affirmation of rating.
In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that CRISIL Limited, credit rating agency, vide its letters dated January 12, 2022, has re-affirmed the rating for the following instruments of the Company:
| S No | Instrument | Rating Outstanding | |
|---|---|---|---|
| 1 | Short Term Debt | CRISIL A1+ | |
| 2 | Commercial Paper |
Please take the above information on record.
Thanking you
Yours truly, For SUNDRAM FASTENERS LIMITED
R Dilip Kumar Executive Vice President - Finance & Company Secretary
CONFIDENTIAL
RL/SDFNL/271029/Short Term Debt/0521/10396/8 January 12, 2022
Mr. Dilip Kumar Vice President & Company Secretary Sundram Fasteners Limited 98 - A, VII Floor, Dr. Radhakrishnan Salai, Mylapore Chennai - 600004 Tel - 9840729033
Dear Mr. Dilip Kumar,
Re: CRISIL Rating on the Rs.25 Crore Short Term Debt of Sundram Fasteners Limited
All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review. Please refer to our rating letters dated December 14, 2021 bearing Ref. no.: RL/SDFNL/271029/Short Term Debt/0521/10396/7
Please find in the table below the rating outstanding for your company.
| S.No. | Instrument | Rated Amount (Rs. in Crore) | Rating Outstanding |
|---|---|---|---|
| 1 | Short Term Debt | 25 | CRISIL A1+ |
For the purpose of issuance of captioned debt programme, this letter is valid for 60 calendar days from the date of the letter. In the event of your company not placing the above programme within this period, or in the event of any change in the size/structure of your proposed issue, the rating shall have to be reviewed and a letter of revalidation shall have to be issued to you. Once the instrument is issued, the above rating is valid (unless revised) throughout the life of the captioned debt Programme with a contracted maturity of one year or less.
As per our Rating Agreement, CRISIL Ratings would disseminate the rating through its publications and other media, and keep the rating under surveillance for the life of the instrument. CRISIL Ratings reserves the right to withdraw or revise the ratings assigned to the captioned instrument at any time, on the basis of new information, or unavailability of information or other circumstances, which CRISIL Ratings believes, may have an impact on the rating.
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Rajeswari Karthigeyan Nivedita Shibu Associate Director - CRISIL Ratings Associate Director - CRISIL Ratings
CONFIDENTIAL
RL/SDFNL/271029/CP/0521/10395/8 January 12, 2022
Mr. Dilip Kumar Vice President & Company Secretary Sundram Fasteners Limited 98 - A, VII Floor, Dr. Radhakrishnan Salai, Mylapore Chennai - 600004 Tel - 9840729033
Dear Mr. Dilip Kumar,
Re: CRISIL Rating on the Rs.100 Crore Commercial Paper of Sundram Fasteners Limited
All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review. Please refer to our rating letters dated December 14, 2021 bearing Ref. no.: RL/SDFNL/271029/CP/0521/10395/7
Please find in the table below the rating outstanding for your company.
| S.No. | Instrument | Rated Amount (Rs. in Crore) | Rating Outstanding |
|---|---|---|---|
| 1 | Commercial Paper | 100 | CRISIL A1+ |
For the purpose of issuance of captioned commercial paper programme, this letter is valid for 30 calendar days from the date of the letter. In the event of your company not placing the above programme within this period, or in the event of any change in the size/structure of your proposed issue, the rating shall have to be reviewed and a letter of revalidation shall have to be issued to you. Once the instrument is issued, the above rating is valid (unless revised) throughout the life of the captioned Commercial Paper Programme with a maximum maturity of one year.
As per our Rating Agreement, CRISIL Ratings would disseminate the rating through its publications and other media, and keep the rating under surveillance for the life of the instrument. CRISIL Ratings reserves the right to withdraw or revise the ratings assigned to the captioned instrument at any time, on the basis of new information, or unavailability of information or other circumstances, which CRISIL Ratings believes, may have an impact on the rating.
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Rajeswari Karthigeyan Nivedita Shibu Associate Director - CRISIL Ratings Associate Director - CRISIL Ratings
Disclaimer: A rating by CRISIL Ratings reflects CRISIL Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisil.com. CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at [email protected] or at 1800-267-1301.
