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-ICRA sets LB+ rating to cash credit of Arrah Re-Rolling Mill.

M2 EQUITYBITES-May 3, 2011--ICRA sets LB+ rating to cash credit of Arrah Re-Rolling Mill(C)2011 M2 COMMUNICATIONS

3 May 2011 - ICRA said on Monday it had rated an INR80m (USD1.8m/EUR1.2m) cash credit of Indian steel products retailer Arrah Re-Rolling Mill Pvt Ltd at LB+.

The rating is weakened by the competitive nature of the steel industry, the company's small size, its "concentrated customer base" and low profitability. The rating, however, draws strength from the experience of the company's promoters and the "favourable demand outlook for steel products in the medium to the long term," ICRA said.

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Publication:M2 EquityBites (EQB)
Date:May 3, 2011
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