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India Ratings upgrades Mahindra Ugine’s long-term issuer rating

29 Oct 2012 Evaluate

India Ratings & Research, a Fitch group Company, has upgraded Mahindra Ugine Steel Company’s long-term issuer rating to ‘A’ from ‘BBB+’, and removed it from Rating Watch Evolving (RWE). The outlook of the rating is stable.

Mahindra Ugine Steel Company is engaged in the manufacturing of alloy & special steel through Electric Arc Furnace (EAF) route & caters to the automotive, engineering, bearing & other industries. The company manufactures a wide array of products including skin components, underbody components, critical assemblies, chassis components and car body sheet metal (Body in White) parts with a total capacity of 30,000 metric tons.

Peers
Company Name CMP
JSW Steel 1230.00
Tata Steel 179.10
Steel Authority 174.00
Jindal Stainless 732.40
APL Apollo Tubes 2119.90
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