Tata Sponge Iron gets revision in ratings for bank facilities

From ICRA

Tata Sponge Iron announced that ICRA has (i) downgraded the Long Term ratings assigned to the fund based bank limits, and (ii) re-affirmed the short term rating assigned to the non-fund based bank facilities of the Company.

The details of the aforesaid rating action are as follows:

Fund based - proposed term loan - ICRA AA- ; Stable
Fund based - cash credit - ICRA AA-; Stable
Non fund based limits - ICRA A1+

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