Credit rating agency, CARE has reaffirmed ‘BBB+ (stable)’ rating to Magna Electro Castings’ long term bank facilities worth Rs 12.08 crore. The rating agency has also reaffirmed ‘A2’ rating to the company’s short-term bank facilities worth Rs 15.25 crore.
Magna Electro Castings is engaged in the manufacture of iron castings, including grey iron, spheroidal graphite (SG) iron and other iron alloy castings-machined and unmachined, and steel components. It operates through two segments: Foundry division and Wind Energy Generation division.
