India, Nov. 9 -- Shyam Metalics and Energy Limited (SMEL) said CRISIL Ratings has reaffirmed its long-term credit rating at 'CRISIL AA+/Stable' and short-term rating at 'CRISIL A1+'.
The rating agency has also enhanced the company's rated bank debt facilities to Rs. 4,500 crore from Rs. 3,600 crore. Additionally, the rating for its Rs. 50 crore Commercial Paper programme has been reaffirmed at 'CRISIL A1+'.
The reaffirmation reflects the company's established position in the steel sector, strong financial risk profile, healthy operating performance and operational efficiencies supported by its integrated manufacturing operations.
The company said its operating performance and revenue growth continue to improve, driven by higher sales vol...