Jindal Stainless (Hisar) announced that CARE Ratings has upgraded the long-term bank facilities of Jindal Stainless (Hisar) (JSHL) to 'CARE A+'.
The rating for short-term bank facilities of the Company has also been upgraded to 'CARE A1+'. Previous ratings assigned to JSHL by CARE in January 2021 were CARE A- and CARE A2+ respectively.
The rating upgrade comes on the back of robust operational and financial performance exhibited by JSHL in FY21. This includes JSHL's long track record of successful operations, higher-than-envisaged sales realizations and margins, and its expertise in value-added products.
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