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CARE reaffirms ‘AA+’ rating to Jindal Steel & Power’s Various Debt Facilities

20 Nov 2013 Evaluate

CARE has reaffirmed ‘AA+’ rating to Jindal Steel & Power’s Long-term Bank facilities worth Rs 14,864.84 crore, Non Convertible Debentures Programme-I worth Rs 500.00 crore, Non Convertible Debentures Programme-II worth Rs 1,000.00 crore, Non Convertible Debentures Programme-III worth Rs 1,612.00 crore, Proposed Non Convertible Debentures Programme-IV worth Rs 100 crore . 

The rating agency has also reaffirmed ‘A1+’ rating to company’s Short-term Bank facilities worth Rs 5,799.80 crore and Commercial Papers Programme worth Rs 1,500.00 crore.

The ratings continue to factor in JSPL consistent track record of profitable operations and the healthy cash flows generated by the company over the years. The ratings favourably consider JSPL’s integrated nature of operations backed by captive raw materials as well as power leading to healthy profitability margins, the company’s diversified product mix and its moderate capital structure as well as debt protection metrics.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

Jindal Steel Share Price

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