Credit rating agency, CARE has revised rating of Steel Authority of India’s (SAIL) long term bond worth Rs 14,406 crore to ‘AA+’ from ‘AAA’. The rating agency has also revised rating of the company’s long term public deposit scheme worth Rs 1,000 crore to ‘AA+’ from ‘AAA’. Further, CARE has reaffirmed rating of SAIL’s commercial paper worth Rs 8,000 crore at ‘A1+’.
SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
