Credit rating agency, CARE has reaffirmed ‘A+’ rating to Maithan Alloys’ Long-term Bank Facilities worth Rs 40 crore, which was reduced from Rs 50 crore and ‘A1’ rating to company’s Short-term Bank Facilities worth Rs 196.00 crore.
The company has received the said rating on back of its experienced promoters, satisfactory track record coupled with diverse geographical presence, established position in the domestic ferro alloy industry and satisfactory financial performance with comfortable gearing ratio as on March 31, 2013.
Maithan Alloys manufactures various grades of ferro manganese, silico manganese and ferro silicon products. It derives 45% of revenues through exports to European and Asian countries. Maithan’s manufacturing units are located in Kalyaneshwari, West Bengal and Byrnihat, Meghalaya, with a combined ferro alloy capacity of 64 MVA, which can produce more than 115,600.
