MSP Steel & Power Limited — Credit Ratings, 27-09-2025: Credit Rating- New

CARE Edge Ratings upgraded MSP Steel & Power Ltd.'s Long-Term Bank Facilities to CARE BBB; Stable (from CARE BBB-; Positive) and Short-Term Facilities to CARE A3+ (from CARE A3). This upgrade reflects significant improvement in capital structure and debt coverage, driven by the conversion of Optionally Convertible Debentures (OCDs) into equity, reducing debt and boosting net worth. The outlook is Stable.