Rating agency Fitch has affirmed ‘A (ind)’ rating with stable outlook to long-term bank facilities’ of Uttam Galva Steels on the back of its improved revenue last fiscal. An ‘A’ rating denotes expectations of low default risk relative to other issuers or obligations in the same country.
The affirmations continue to reflect the company’s market position as one of the leading producers of galvanized and cold rolled products, its demonstrated track record in terms of growth and margins, and the company’s diversified customer profile.
Fitch has also affirmed low default risk on some of the company’s long-term and short-term debt instruments.
Uttam Galva Steels is engaged in the business of manufacturing Cold Rolling (CR) Coils, Cold Rolled Close Annealed (CRCA), Galvanized Plain Products (GP) and Galvanized Corrugated Products (GC). It has emerged as one of the largest manufacturers of cold rolled steel ('CR') and galvanized steel (GP) in Western India. The company’s products have applications in area of construction, transport, household appliances to name few.
