India, Sept. 24 -- Steel Exchange India Limited has received a two-notch upgrade in its long-term credit rating from Infomerics Valuation and Rating Limited, reflecting an improvement in the company's operational and financial performance.
Infomerics upgraded the company's long-term rating to IVR BBB+/Stable from IVR BBB-/Stable, while the short-term rating was raised to IVR A2 from IVR A3.
Alongside the upgrade, the rated bank facilities have been increased from Rs 200 crore to Rs 359.63 crore. The rating on the company's Rs 198.56 crore listed Non-Convertible Debentures was also upgraded to IVR BBB+/Stable, taking the total rated debt quantum to Rs 558.19 crore.
This marks the second consecutive rating upgrade for Steel Exchange India ...