New Delhi, Oct. 9 -- CARE Ratings Limited has reaffirmed the credit ratings for Steel Authority of India Limited (SAIL), highlighting the company's strong market position and robust domestic demand. SAIL's long-term bank facilities have been rated CARE AA; Stable, with an increase to Rs.14,100 crore from Rs.10,500 crore, the ratings agency said. SAIL's short-term bank facilities have been rated CARE A1+, now enhanced to Rs.39,000 crore from Rs.35,000 crore, the agency added.

SAIL's reaffirmed ratings underscore its status as a 'Maharatna' company, with a 65% stake held by the Government of India. This ownership structure provides SAIL with significant advantages in procuring contracts and raising finances at competitive rates. The compan...