CRISIL upgrades Sterlite Tech’s long-term rating outlook to CRISIL AA-/Positive

Sterlite Tech [BSE: 532374, NSE: STRTECH], an end-to-end global technology leader in smarter digital networks, has received CRISIL’s rating upgrade to CRISIL AA-/Positive on its long-term bank facilities while reaffirming the rating at ‘CRISIL AA-’. The rating on the Company’s commercial paper programme has been reaffirmed at ‘CRISIL A1+’.
The outlook revision reflects CRISIL’s belief that Sterlite Tech’s financial risk profile could improve over the medium term on the back of improvement in profitability and net cash accruals, given its healthy business prospects. Elaborating on the business outlook, Anupam Jindal, CFO, Sterlite Tech, said, “Based on our integrated design, build and manage strategy, we are uniquely positioned to cater to the Rs 1.3 lakh-crore opportunities arising across key Digital India initiatives like Bharat Net, Smart Cities and Defence space. With the focus of the global telecom industry shifting towards smarter networks that address the challenges of hyper-connectivity and broadband network requirements of 5G and IoT, we are leading the industry with our breakthrough digital technologies.”
With a pure-play telecom focused business that develops and delivers smarter optical communication products, network and system integration services and OSS/BSS software solutions, Sterlite Tech is a global player in enabling the internet economy through the creation of future-proof digital infrastructures for urban and rural areas, last-mile connectivity and monetization requirements across all smarter networks.