Steel Exchange India receives upgrade in credit ratings

Steel Exchange India has achieved investment-grade credit rating status, following the assignment and upgrade of its bank facilities by Infomerics Valuation and Rating as detailed below:

Non convertible debentures (Rs 198.56 crore) - IVR BBB-; Stable (upgrade)

Long term bank facilities term loans (Rs 150 crore) - IVR BBB-; Stable (assigned)

Long term bank facilities cash credit (Rs 10 crore) - IVR BBB-; Stable (upgraded)

Short term bank facilities letter of credit (Rs 40 crore) - IVR A3 (upgraded)

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