Ashok Leyland receives affirmation in credit ratings

Ashok Leyland has received reaffirmation in credit ratings and revision in outlook from Negative to Stable from CARE as under:

Long term bank facilities (Rs 400 crore) - CARE AA; Stable
Long term / short term bank facilities (Rs 3700 crore) - CARE AA; Stable/ CARE A1+
Non convertible debentures (Rs 600 crore) - CARE AA; Stable
Commercial paper (Rs 2000 crore) - CARE A1+

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