Shyam Metalics and Energy’s credit rating has been revised by Credit Rating Agency -- CARE. The rating agency has reaffirmed company’s long term bank loan to ‘AA-’; Outlook revised to positive from stable, Short-term Bank Facilities to ‘A1+’ and Commercial Paper (Carved out) to ‘A1+’.
The revision in the outlook for long-term ratings reflects that the consolidated operating performance of the company would improve further backed by growing volumes and favourable realizations amid strong industry upcycle.
Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys.
