Steel Exchange India announced that Infomerics Valuation and Rating has upgraded the company's credit ratings in compliance with Regulation 30 and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 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, while the short-term rating has been upgraded from IVR A3 to IVR A2. This represents a significant improvement in the company's creditworthiness assessment under SEBI compliance requirements, with the rating agency communicating these upgrades in a formal letter dated September 22, 2026.
Alongside the upgrade, the rated bank facilities have been enhanced from ₹200 crore to ₹359.63 crore, as reported by Business Standard. This substantial increase in the rated bank facilities demonstrates the enhanced confidence of the rating agency in the company's financial position and repayment capabilities. The upgrade reflects the company's improved financial metrics and operational performance, with the facility enhancement specifically noted in the latest regulatory compliance disclosure.
According to Business Standard, Infomerics has also upgraded by two notches the rating on the company's ₹198.56 crore listed Non Convertible Debentures from IVR BBB-/Stable to IVR BBB+/Stable. This upgrade takes the total rated quantum to ₹558.19 crore, combining both bank facilities and debentures. The debenture rating enhancement indicates strong investor confidence in the company's debt instruments and repayment capacity, with the latest disclosure confirming the enhanced rating for the ₹198.56 crore debenture issue.
