ICRA upgrades long term rating of Maharashtra Seamless Ltd

ICRA Ltd. has upgraded the long term credit rating to [ICRA] AA from [ICRA] AA2) Reaffirmed the short-term rating at [ICRA] A1+ and given a Stable outlook on long term credit rating.

The long-term rating upgrade factors in the Company's stellar performance in FY2022 undeterred by 2 waves of COVID-19 coupled with an improvement in its liquidity position. The rating upgrade also factors in the Company's reduced focus on non-core businesses and deleveraging guidance. The ratings assigned indicate high degree of safety regarding timely servicing of financial obligations and very low credit risk.

Source : Equity Bulls

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