Credit rating agency, CARE has reaffirmed ‘AA’ rating to JSW Steel’s Long-term Bank Facilities worth Rs 21,179.99 crore, ‘A1+’ rating to Short-term Bank Facilities worth Rs 11,330.00 crore and ‘AA’ /‘A1+’ rating to Long-term/Short-term Bank Facilities worth Rs 9,634.83 crore .
The rating has also reaffirmed ‘AA’ rating to company’s Long-term Non-Convertible Debentures worth Rs 4,888.06 crore and ‘A1+’ rating to Commercial Paper issue worth Rs 1,000.00 crore .
The ratings continue to derive strength from JSWSL’s significant presence in the Indian steel sector, its experienced management with well-established track record in brownfield project execution and cost management expertise, well-diversified product mix with increasing share of value added and upstream products and improvement in operational performance during FY13 and Q1FY14.
JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. 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.
