Ratings agency Fitch affirmed a low default risk on steel wire rope manufacturing giant Usha Martin with a stable outlook on the back of the company's good Ebidta margin and credit position.

Fitch in a statement said that "Fitch Ratings has affirmed India-based Usha Martin Ltd's national long-term rating at 'A+(ind)' with a stable outlook. The ratings reflect its stable consolidated Ebidta margin and comfortable credit metrics over the last two years.”

An 'A' national rating denote expectations of low default risk relative to other issuers or obligations in the same country.

Fitch said that "The ratings also draw comfort from the company's low exposure to volatile raw material (primarily low ash metallurgical coke) prices and better inventory management as it owns captive iron ore and coal mines.”

(Sourced from PTI)