Credit rating agency -- India Ratings has upgraded its long-term credit rating of JSW Energy to ‘AA’ (stable) from ‘AA-’ (stable). An upgrade of a company within the AA family of ratings is a clear recognition of the robust business and risk management practices of the company and its strong financial profile.
The upgrade concurs with the commencement of a capex (capital expenditure) cycle entailing an annual outlay of Rs 8,000-Rs 10,000 crore to reach a 20-gigawatt (GW) operational portfolio comprising 85 per cent renewable energy capacity.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
