STEEL EXCHANGE INDIA LIMITED has informed the Exchange about Credit Rating- New
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Steel Exchange India Limited has received fresh credit ratings from Infomerics Valuation and Rating Limited, replacing the previous ratings from CareEdge Ratings. The Non-Convertible Debentures of Rs. 198.56 crore were upgraded from CARE BB+/Stable to IVR BBB-/Stable. Long-Term Bank Facilities for Term Loans of Rs. 150 crore received a fresh rating of IVR BBB-/Stable. Cash Credit limit of Rs. 10 crore was upgraded from IVR BB+/Stable to IVR BBB-/Stable, and Short-Term Bank Guarantee facility of Rs. 40 crore was upgraded from IVR A4+ to IVR A3. Overall, the company has moved up the credit rating scale, crossing from non-investment grade (BB+) to investment grade (BBB-) on its long-term borrowings.
This is positive news for shareholders. The upgrade from BB+ (junk grade) to BBB- (lowest investment grade) reflects improved creditworthiness, which can help the company borrow at lower interest rates and strengthen lender confidence. It also signals better financial health to the market.