ICRA reaffirms credit rating of IFGL Refractories banking facilities

21 Jan 2022 , 03:04 PM

IFGL Refractories Ltd informed exchanges about the re-affirmation of its credit rating by the Rating Committee of Credit Rating Agency ICRA Limited (ICRA).

ICRA has confirmed the credit rating assigned to Rs 173 crores bank facilities of the company.

“Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has reaffirmed the long-term and short-term rating at [ICRA]AA¬ (pronounced ICRA Double A Minus) and [ICRA)Al+ (pronounced ICRA A-One Plus) (“Rating”) to the Rs. 173 crore Bank Facilities of IFGL Refractories Limited. The outlook on the long-term rating is Stable,” stated ICRA in its review document.

IFGL Refractories Ltd. is a manufacturer of Specialised Refractories and requisite Operating Systems for the Iron and Steel Industry. Its plant now manufacturers Slide Gate Systems and Refractories with the latest know-how from Krosaki Harima Corporation, Japan, a subsidiary of Nippon Steel Corporation.