Fitch assigns F1 ranking to Rs 20 cr short-term CP prog of AML

New Delhi, Jun 29 (UNI) Credit rating agency Fitch today assigned an F1(ind) National Short-term Rating to the Rs 20 crore commercial paper (CP) programme of Adhunik Metaliks Ltd (AML).

The rating takes into account AML's existing profitable operations with its presence in metalics (sponge and pig iron) and carbon/alloy steel billet segments, track-record of timely implementation of projects in the past, freight advantage enjoyed due to its proximity to sources of iron ore and coal and the favourable demand outlook for steel in the domestic market.

AML's operations presently span a part of the alloy steel value chain.

Adhunik Metaliks Ltd (AML), founded by the Agarwal family, is the flagship company of the Adhunik Group based in Kolkata.

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