Credit ratings agency CARE has upgraded rating of Salasar Techno Engineering’s long term borrowing to ‘BBB+’ from ‘BBB’ and short term borrowings to ‘A2’ from ‘A3+’. This revision in rating for the company considers the improvement of financial risk profile consequent to fund raising via Initial Public Offering (IPO) during H1 FY18, and healthy operational performance of the company. The rating continues to factor in extensive experience of promoters, long track record of operations, reputed customer base and a good order book position.
Salasar Techno Engineering incorporated in 2007 is o provider of customized steel fabrication and infrastructure solutions in India.
