State-owned steelmaker Rashtriya Ispat Nigam Ltd (RINL) is actively engaging with credit rating agencies to secure an upgrade of its credit rating from BB to BBB+. This move comes as a result of the company’s substantial efforts to reduce its debt burden and strengthen its financial position. @EconomicTimes+2@EconomicTimes+2@EconomicTimes+2
A steel ministry official confirmed the development, indicating RINL’s commitment to enhancing its fiscal stability and credibility in the market. @EconomicTimes
The company has cut its banking debt to around ₹13,000 crore as of March 2025 from around ₹19,000 crore a year earlier.
“A lower cost of capital increases the return on investment (ROI) on projects, thereby contributing to increased shareholder value, which in the case of RINL would be the Government of India,” said Vivek Iyer, partner and financial services risk leader at Grant Thornton Bharat.
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Source (full link):
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/rinl-seeks-credit-rating-upgrade-after-paring-debt/articleshow/121146205.cms?from=mdr
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