Steel Exchange India Gets Credit Rating Upgrade
Steel Exchange India Rating Upgrade
Infomerics Valuation and Rating Limited has upgraded the credit ratings of Steel Exchange India Limited, marking the company's second successive rating upgrade from the agency.
The long-term rating for the company's bank loan facilities has moved up from IVR BBB-/Stable to IVR BBB+/Stable, while the short-term rating has been revised from IVR A3 to IVR A2.
The listed Non-Convertible Debentures (NCDs) have also received a two-notch upgrade to IVR BBB+/Stable.
Rating Details
- Long-term bank facilities: IVR BBB+/Stable, upgraded from IVR BBB-/Stable
- Short-term facilities: IVR A2, upgraded from IVR A3
- Listed NCDs: IVR BBB+/Stable
- Total rated exposure: Rs.558.19 crore
- Validity: Up to September 21, 2027
What to Watch Next
Investors may track Steel Exchange India's borrowing costs, debt levels, working capital position, and execution of its growth plans following the rating upgrade.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
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