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India Rating downgrades rating assigned to Usha Martin’s bank facilities

21 Dec 2016 Evaluate

Credit rating agency, India Rating and Research has downgraded rating assigned to Usha Martin’s Long-term Issuer Rating from existing ‘BBB’ to ‘BBB-’ and removed it from Rating Watch Negative.

Usha Martin is amongst the largest wire rope manufacturer in the world and a leading speciality steel producer in India. The wire rope manufacturing facilities located in India, UK, UAE, and Thailand produce one of the widest range of wire ropes in the world.

Peers
Company Name CMP
JSW Steel 1267.50
Tata Steel 182.85
Steel Authority 179.00
Jindal Stainless 755.20
APL Apollo Tubes 2153.00
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