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Fitch affirms Sterling Tools
Fitch Ratings said it affirmed Sterling Tools Ltd.'s national long-term rating at BBB+(ind).
The agency noted that it has also affirmed the company's Rs. 236.3 million of term loans, reduced from Rs. 268.8 million, at BBB+(ind), its Rs. 450 million fund-based limits and Rs. 210 million non-fund based limits at BBB+(ind)/F2+(ind).
The outlook is stable.
According to Fitch, the ratings factor in Sterling Tools' strong operating profit and net profit margins, as well as its moderate financial leverage.
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