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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