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ICRA upgrades JSW Steel’s long-term rating to ‘AA’

30 Aug 2018 Evaluate

Credit rating agency, ICRA has upgraded JSW Steel’s long-term rating to ‘AA/Stable’ from ‘AA-/Stable’, while it has reaffirmed short term ratings to ‘A1+’ for bank facilities, non-convertible debenture programme and commercial paper programme.

ICRA upgrades the company’s long-term rating by taking into account a sustained improvement in the company’s operating and financial performance on the back of favourable demand and remunerative steel prices a trend which ICRA expects is likely to persist in the near-to-medium term.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

Peers
Company Name CMP
JSW Steel 1259.00
Tata Steel 178.60
Steel Authority 178.75
Jindal Stainless 750.30
APL Apollo Tubes 2145.00
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