India Ratings & Research (Ind-Ra) has assigned Usha Martin (UML) additional Rs 7,000 million term loan a long-term 'A+' rating.

UML's outstanding ratings (including the above) are as follows:

> Long-term issuer rating: 'A+'; outlook negative
> Rs 33,886.8 million term loans: long-term 'A+'
> Rs 8,000 million fund-based working capital limits: long-term 'A+'
> Rs 5,400 million long-term non-fund-based limits: long-term 'A+'

Shares of the company declined Rs 0.2, or 0.51%, to trade at Rs 38.75. The total volume of shares traded was 42,262 at the BSE (12.22 p.m., Wednesday).