Credit rating agency, CARE has assigned ‘BB+’ rating to the long-term bank facilities of India Steel Works amounting Rs 80 crore. The rating assigned to the bank facilities of the company factors in the promoter’s significant experience in stainless steel industry, improvement in capital structure post equity infusion in FY14 and improved financial performance in FY15 & Q1-FY16.
India Steel Works (ISWL) is an integrated stainless steel manufacturing facility and is involved in manufacturing wide range of stainless steel grade billets, wire rods and bright bars. ISWL has a installed capacity of 81,000 TPA of for steel billets, 1,20,000 TPA of wire rods, 60,000 TPA of bars & 12,000 TPA bright bar at Khopoli in Maharashtra.
