Macro Tsimmis

intelligently hedged investment

Sterlite Industries India Ltd. (SLT) update #2

Posted by intelledgement on Tue, 01 Apr 08

Sterlite Industries (SLT), our Indian minings and metals and (soon to be) power provider company, announced today that the Credit Rating and Information Services of India Ltd. (CRISIL) has upgraded SLT’s ratings. “CRISIL’s rating upgrade is driven by more-than-expected improvement in Sterlite Industries’ financial risk profile which is marked by the strong and sustainable improvement in the company’s financial flexibility and liquidity position,” according to the press release.

The credit rating upgrade will result in lower borrowing costs for Sterlite, which—presuming the proceeds of any such loans are invested by management with their accustomed wisdom—should lead to increased profits.

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