STEEL EXCHANGE INDIA LIMITED — Credit Ratings, 31-12-2025: Credit Rating- New

Infomerics upgraded Steel Exchange India's ratings for NCDs (Rs 198.56 Cr), Cash Credit (Rs 10 Cr), and Bank Guarantees (Rs 40 Cr). NCDs were previously rated by CareEdge. Long-term facilities now hold IVR BBB-/Stable, with short-term at IVR A3. Infomerics also assigned IVR BBB-/Stable for Term Loans (Rs 150 Cr). This reflects a positive assessment of the company's debt.