Fitch Downgrades Steel Authority of India to ‘BB’, Outlook Negative

Newsroom24x7 Staff Singapore: Fitch Ratings has downgraded Steel Authority of India Limited’s (SAIL) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BBB-‘. The Outlook is Negative. The downgrade follows the deterioration in SAIL’s financial profile after a prolonged weakening in international steel prices. SAIL’s debt-funded capex programme has magnified the impact of weak prices.… Read More Fitch Downgrades Steel Authority of India to ‘BB’, Outlook Negative