Steel Exchange India receives upgrade in credit ratings

Steel Exchange India announced that Infomerics Valuation and Rating has upgraded the company's credit ratings.

The long-term rating on the company's bank loan facilities has been upgraded by two notches, from IVR BBB-/Stable to IVR BBB+/Stable, and the short-term rating has been upgraded from IVR A3 to IVR A2.

Alongside the upgrade, the rated bank facilities have been enhanced from Rs 200 crore to Rs 359.63 crore. I

nfomerics has also upgraded by two notches the rating on the company's Rs 198.56 crore listed Non Convertible Debentures from IVR BBB-/Stable to IVR BBB+/Stable, taking the total rated quantum to Rs 558.19 crore.