STEEL EXCHANGE INDIA LIMITED has informed the Exchange about Credit Rating- Revision
STEELXIND · price
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Awaiting price reaction for this filing.
Steel Exchange India Limited received credit rating upgrades from Infomerics Valuation and Rating Limited (a new rating agency, replacing CareEdge Ratings). The Non-Convertible Debentures of Rs. 198.56 crore were upgraded from CARE BB+/Stable to IVR BBB-/Stable. Long-term Cash Credit of Rs. 10 crore was upgraded from IVR BB+/Stable to IVR BBB-/Stable. Short-term Bank Guarantee of Rs. 40 crore was upgraded from IVR A4+ to IVR A3. Long-term Term Loans of Rs. 150 crore received a fresh IVR BBB-/Stable rating assignment. All ratings carry a Stable outlook.
Positive for shareholders — the rating upgrade from BB+ to BBB- (investment grade) signals improved creditworthiness, which could lower future borrowing costs and boost lender confidence, potentially supporting stock sentiment.