SHYAM METALICS: CRISIL REAFFIRMS AA+/STABLE AND A1+ RATINGS

SHYAM METALICS: CRISIL REAFFIRMS AA+/STABLE AND A1+ RATINGS; BANK DEBT LIMIT RAISED TO ₹4,500 CRORE SHYAMMETL • CRISIL reaffirmed the company's long-term rating at **CRISIL AA+/Stable** and short-term rating at CRISIL A1+. • The rated bank debt limit has been enhanced to ₹4,500 crore from ₹3,600 crore. The ₹50 crore commercial paper programme has also been reaffirmed at CRISIL A1+. • The rating rationale highlights the company's established position in the steel industry, strong financial risk profile and healthy operating performance. • The company's multi-year capital expenditure for capacity expansion is expected to be funded primarily through internal accruals and cash reserves, supporting comfortable debt metrics. • Expansion across flat steel, pig iron, stainless steel and aluminium foil continues, with aggregate installed metal capacity standing at 16.93 MTPA. Impact: Positive – The higher rated bank debt limit provides additional funding headroom for brownfield expansion, while reaffirmation of credit ratings reflects continued financial strength.