India, Sept. 24 -- Steel Exchange India announced that Infomerics Valuation and Rating has upgraded the company's credit ratings.The long-term rating on the company's bank loan facilities has been upgraded by two notches, from IVR BBB-/Stable to IVR BBB+/Stable, and the short-term rating has been upgraded from IVR A3 to IVR A2.Alongside the upgrade, the rated bank facilities have been enhanced from Rs 200 crore to Rs 359.63 crore. Infomerics has also upgraded by two notches the rating on the company's Rs 198.56 crore listed Non Convertible Debentures from IVR BBB-/Stable to IVR BBB+/Stable, taking the total rated quantum to Rs 558.19 crore.
Published by HT Digital Content Services with permission from Pivotal Sources....