India Ratings and Research (Ind-Ra) has upgraded Minda Corporation’s Long Term Issuer Rating to ‘AA-’ from ‘A+’. Rating upgrade highlights strengthening of the business portfolio and financials of Minda Corporation largely aided by a growth in its core business, both domestic and exports. The company has also increased its focus on technological driven products like Sensors and Telematics.
Minda Corporation is a diversified company with a product portfolio encompassing from Mechanical & Electronic Security System, Electronic Controllers for Electric Vehicles and for Auto OEM’s across the Globe. It also manufactures Die Casting Parts for auto and consumer durable industry.