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.