ICRA assigned Credit Rating for Rs 524.00 Non-Convertible Debenture of NMDC Steel Limited

Credit rating agency ICRA, based on a review of the latest developments, the Rating Committee after due consideration has downgraded the long-term Rating from [ICRA]A- Rating Watch with Developing Implications to [ICRA]BBB+ Rating Watch with Developing Implications.

Securities with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such securities carry moderate credit risk.

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The Ratings are specific to the terms and conditions of the non-convertible Debentures as indicated and any change in the terms or size of the same would require a review of the Rating by us, as the rating agency said.

In case there is any change in the terms and conditions or the size of the rated non-convertible Debentures, the same must be brought to our notice before the non-convertible Debentures is used by the company, it added.

 

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