Usha Martin gets long-term issuer rating upgrade from Ind-Ra; Stock slips 2%

The credit rating agency has also affirmed its rating assigned to Short-term credit facilities to commercial paper programme.

Aug 10, 2021 11:08 IST India Infoline News Service

Usha Martin
India Ratings and Research Pvt. Ltd. (Ind-Ra) has upgraded Usha Martin Limited’s long-term issuer rating from 'IND A-' to 'IND A', the company said in a regulatory filing on Monday.

The credit rating agency has also affirmed its rating assigned to Short-term credit facilities at ‘IND A1’ and assigned a rating of ‘IND A1’ to the commercial paper program of the Company. The outlook is stable.

At around noon time, Usha Martin Ltd was trading at Rs70.30 per piece down by Rs1.75 or 2.43% from its previous closing of Rs72.05 per piece on the BSE.
The scrip opened at Rs72.70 and has touched a high and low of Rs72.95 and Rs70.10 respectively, so far on Tuesday.

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