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CRISIL downgrades ratings of Pradeep Metals’ bank facilities

10 Jan 2018 Evaluate

Credit rating agency, CRISIL has downgraded rating of Pradeep Metals’ long term bank facilities worth Rs 96 crore to ‘BB+/Negative’ from ‘BBB/Negative’. The rating agency has also downgraded rating of the company’s short term bank facilities to ‘A4+’ from ‘A3+’.

Pradeep Metals manufactures closed-die forgings for the Valve, Instrumentation, Petrochemical, and General Engineering industries around the world.

Peers
Company Name CMP
Bharat Heavy Elect. 434.10
Thermax 3325.75
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Skipper 525.65
INDO-MIM 1181.70
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