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Fitch Ratings downgrades JSW Steel’s long term issuer default rating

04 Apr 2016 Evaluate

Fitch Ratings has downgraded JSW Steel’s Long Term Issuer Default Rating (IDR), senior unsecured rating and rating on the outstanding USD 500 million senior unsecured notes of the Company due 2019 by one notch from ‘BB+’ to ‘BB’.

JSW Steel is engaged in manufacturing flat steel products, upstream products. It offers mild steel hot rolled coils, plates and sheets, tolerances and downstream products include hot rolled plates, cold rolled close annealed and galvanized sheets and coils.

Peers
Company Name CMP
JSW Steel 1240.65
Tata Steel 183.35
Steel Authority 175.25
Jindal Stainless 740.00
APL Apollo Tubes 2128.60
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