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.
