CRISIL Upgrades Sterlite Tech's Long-term Rating Outlook to CRISIL AA-/Positive

PUNE, India, April 19, 2017 /PRNewswire/ --

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 BharatNet, 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.

More details on the rating upgrade and rationale can be accessed on: https://www.sterlitetech.com/pdf/other-disclosure/Sterlite-Technologies-RR-120417.pdf

About Sterlite Technologies:   

Sterlite Technologies Ltd [BSE: 532374, NSE: STRTECH], is a global technology leader in smarter digital networks. With a pure-play telecom focused business that develops and delivers optical communication products, network and system integration services and OSS/BSS software solutions, Sterlite Tech has a sales network in six continents. The Company has manufacturing presence in India, China and Brazil, and aims to transform everyday living by delivering smarter networks. With a strong portfolio of over 130 patents, Sterlite Tech is home to India's only Centre of Excellence for broadband research. Projects undertaken by the company include intrusion-proof smarter data network for the Armed Forces, rural broadband for BharatNet, Smart Cities' development, and establishing high-speed Fibre-to-the-Home (FTTH) networks.

For more details, visit http://www.sterlitetech.com

Media Contact:
Investor Relations
Vishal Aggarwal
[email protected]
+91-20-30514000

Sumedha Mahorey
Manager - Corporate Communications
Sterlite Technologies Ltd
[email protected]
+91-22-30450404