India Ratings & Research (Ind-Ra) has withdrawn its rating for the Indian Metals and Ferro Alloys (IMFA) pursuant to the credit facility to which it pertained being repaid in full. However, the rating agency has downgraded rating from A/Stable/A1 to A-/Stable/A1.
Ind-Ra continues to expect the company’s integrated nature of operations, leading market position, adequate liquidity and long term off-take agreements with customers to help it tide over the cyclical downturn.
IMFA is a producer of ferro chrome/ferro alloys. The company operates through two segments - Ferro Alloys and Power.
