The JCR-VIS Credit Rating converts 'preliminary' rating of AA- (double A minus) assigned to the proposed privately placed, five-year term finance certificate issue of Rs 300 million of Crescent Steel Ltd to 'final' rating after examination of all legal documents.

Further Crescent Steel ratings of A+ (single A plus) for the medium to long-term and A1 (A one) for the short-term have also been reaffirmed. The outlook on the medium to long-term and TFC issue ratings is 'stable'.

Copyright Business Recorder, 2004