India, Nov. 6 -- Shyam Metalics and Energy Limited (SMEL), one of India's leading integrated metal producers, has received a credit rating upgrade from CRISIL Ratings Limited. The long-term rating has been revised to 'CRISIL AA+/Stable' from 'CRISIL AA/Positive', while the short-term rating has been reaffirmed at 'CRISIL A1+', the highest rating in the category. This makes SMEL the highest-rated company among its industry peers by CRISIL.
The upgrade reflects the company's strong and diversified business profile, supported by healthy operations across steel, ferro alloys, power, aluminium, pig iron, and stainless steel. CRISIL also highlighted the company's continued expansion, strengthening integration, and focus on higher-value products ...