CARE Ratings has reaffirmed Maithan Alloys' credit rating, endorsing the financial position of one of India's largest ferro alloy producers. Rating reaffirmations matter in a capital-intensive, power-hungry industry: they hold down borrowing costs, keep banking lines comfortable and signal balance-sheet discipline through a volatile price cycle. For counterparties across the supply chain — ore suppliers, power vendors, steel mill customers — a stable rating at a major alloy producer is quiet reassurance that the sector's leaders remain financially sound.