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India Ratings downgrades long term issuer rating of Adhunik Industries to ‘D’

15 Sep 2017 Evaluate

Credit rating agency, India Ratings & Research (Ind-Ra) has downgraded Long Term Issuer Rating of Adhunik Industries from ‘BBB-’ to ‘D’ on account of delay in debt servicing in August, 2017 due to decline in company’s financial flexibility. The outlook is stable.

Adhunik Industries is one of the major key player among the various players in the rolling mill industry in the Durgapur region of West Bengal

Peers
Company Name CMP
JSW Steel 1255.00
Tata Steel 184.65
Steel Authority 181.60
Jindal Stainless 746.95
APL Apollo Tubes 2181.05
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