Moody's Investors Service has revised the outlook on JSW Steel to positive from stable, citing improving credit situation. Moody's also affirmed JSW Steel's Ba2 corporate family rating (CFR) and the Ba2 rating on the company's senior unsecured notes.
The positive outlook reflects the improving trajectory of the company's credit metrics mainly due to its competitive and efficient production costs, solid domestic demand conditions and Moody's expectation for a supportive ongoing price environment. It also incorporates expectation that the company will remain selective in any acquisitions, funding them with a prudent mix of debt and equity.
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.
