STEELXIND: Credit Rating Upgraded by Infomerics Valuation and Rating
Steel Exchange India Limited (STEELXIND) has announced an upgrade in its credit ratings from Infomerics Valuation and Rating Limited. The rating agency, in its letter dated December 30, 2025, upgraded...
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Why is STEEL EXCHANGE INDIA LIMITED in the news today?
STEEL EXCHANGE INDIA LIMITED (STEELXIND) is in the news due to the company's credit ratings have been upgraded, which is a positive development indicating improved financial health and reduced risk.
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STEELXIND: Credit Rating Upgraded by Infomerics Valuation and Rating
December 31, 2025, 08:26 AM
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Steel Exchange India Limited (STEELXIND) has announced an upgrade in its credit ratings from Infomerics Valuation and Rating Limited. The rating agency, in its letter dated December 30, 2025, upgraded the ratings for Non-Convertible Debentures, Long-Term Bank Facilities - Term Loans, Long Term Bank Facilities - Cash Credit, and Short-Term Bank Facilities.
The Non-Convertible Debentures of ₹198.56 crore have been upgraded to IVR BBB-/Stable from CARE BB+/Stable. The Long-Term Bank Facilities - Term Loans (₹150.00 crore) have been assigned a rating of IVR BBB-/Stable. The Long-Term Bank Facilities - Cash Credit (₹10.00 crore) has been upgraded to IVR BBB-/Stable from IVR BB+/Stable. Furthermore, the Short-Term Bank Facilities - Bank Guarantee (₹40.00 crore) has been upgraded to IVR A3 from IVR A4+.
Previously, the ratings were provided by CareEdge Ratings Limited (formerly CARE Ratings Limited). This announcement is made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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