CareEdge has reaffirmed the credit ratings of Steel Authority of India Limited (SAIL). Long-term bank facilities are rated CARE AA; Stable, enhanced from ₹14,100.00 Crore to ₹14,850.00 Crore. Short-term bank facilities are rated CARE A1+, enhanced from ₹39,000.00 Crore to ₹48,250.00 Crore. Bonds are rated CARE AA; Stable, reduced from ₹28.00 Crore to ₹14.00 Crore. Commercial Paper is rated CARE A1+ at ₹8,000.00 Crore.
Credit Ratings Reaffirmed
CareEdge has reaffirmed the credit ratings for Steel Authority of India Limited (SAIL), indicating a stable outlook for the company’s financial instruments. These ratings reflect CareEdge’s assessment of SAIL’s ability to meet its financial obligations.
Long Term Bank Facilities
The long-term bank facilities of SAIL have been reaffirmed at CARE AA; Stable, with the amount enhanced from ₹14,100.00 Crore to ₹14,850.00 Crore. This rating signifies a high degree of safety regarding timely servicing of financial obligations.
Short Term Bank Facilities
SAIL’s short-term bank facilities have been reaffirmed at CARE A1+, with the amount enhanced from ₹39,000.00 Crore to ₹48,250.00 Crore. This rating indicates a very strong capacity for repayment of short-term debt obligations.
Bonds
The rating for SAIL’s bonds has been reaffirmed at CARE AA; Stable. The amount has been reduced from ₹28.00 Crore to ₹14.00 Crore.
Commercial Paper
The commercial paper of SAIL has been reaffirmed at CARE A1+, with a value of ₹8,000.00 Crore. This indicates a very low risk of default.
Source: BSE
