JSW Steel Ltd.

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.