Credit rating agency, India Ratings and Research has revised the ratings of Steel Authority of India’s (SAIL) bank facilities due to current global and Domestic Steel Market Scenario. The rating agency has revised the rating of company’s Long Term Bonds worth Rs 15,000 crore to ‘AA’ from ‘AAA’.
The rating agency has reaffirmed the rating of company’s Commercial Paper/ Short term Debt Programme worth Rs 8,000 crore and Non Fund Based Working Capital Limits worth Rs 2,000 crore to ‘A1+’. The rating agency has revised the ratings of Long Term Non Fund Based Bank Limits worth Rs 7,000 crore, Fund Based Working Capital Limits worth Rs 4,500 crore and Long Term Bank Loan worth Rs 2,000 crore to ‘AA’ from ‘AAA’. The rating agency has also revised the rating of Medium Term Debt Programme worth Rs 1,000 crore to ‘tAA’ from ‘tAAA’.
Steel Authority of India is a steel and iron manufacturing company. Its products include hot and cold rolled sheets and coils, galvanized sheets, electrical sheets, structural, railway products, plates, bars and rods, stainless steel and other alloy steels.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
| View more.. | |
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