Sutlej Textiles and Industries (STIL), a leading manufacturer of value added dyed yarns-synthetic, cotton mélange, & home textiles, announced that the company has issued Commercial Paper (CP) worth Rs 250 million.

The CP issue has been rated CARE A1+ by Credit Analysis & Research (CARE). Instruments with the aforesaid rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

The rating derives strength from the experience of the promoters in the Textile industry (especially the dyed yarn segment) and business profile being amongst India's leading player in the dyed spun yarn and value added / speciality yarn.

Shares of the company declined Rs 10.55, or 2.89%, to settle at Rs 354.85. The total volume of shares traded was 1,626 at the BSE (Monday).