Viraj Profiles Limited Banking Facilities Placed on Credit Watch by Indian Credit Rating Agency

CARE Ratings has placed Viraj Profiles Limited (VPL) on Credit Watch, after the US International Trade Commission issued a limited exclusion and cease-and-desist order, based on spoliation of evidence in relation to a complaint from Valbruna Slater Stainless Inc. The announcement also lists actions VPL will be taking in response to the ITC’s decision, including an appeal, and issuing a 3 million dollar bond to complete its outstanding order book for the US. AWPA Stainless Producer members have been following this investigation and submitted comments. More information, including the announcement from CARE, can be found on the AWPA’s International Trade cases page.