CRISIL assigns ‘FAA-/Stable’ rating to Gabriel India’s FD programme

Credit rating agency, CRISIL has assigned ‘FAA-/Stable’ rating to Gabriel India’s fixed deposit programme and reaffirmed the rating on the company’s long-term bank facilities at ‘A+/Stable’. Moreover, the ratings on the company’s short-term bank facilities and commercial paper have been reaffirmed at ‘A1’. The ratings continue to reflect the company’s healthy market position in the suspension components segment, supported by a diverse customer and segment base, healthy technical capabilities and improving financial risk profile. These rating strengths are partially offset by the moderate susceptibility of the company's operating profitability to pricing pressures from its peers and automotive original equipment manufacturers (OEMs). Gabriel India has the widest range of Ride Control Products in India and enjoys a leadership position in the market. It has strong presence as a producer and supplier of high quality Ride Control Products for the Indian Automotive Industry participating in all segments i.e. Passenger Cars, Utility Vehicles, Commercial Vehicles and Two Wheelers.