JSW Steel Ltd.
BSE: 500228 | NSE: JSWSTEEL
Large Cap | Steel & Iron Products
1245.55
21.15 (1.73%) Moody's affirms ‘Ba2’ rating to JSW Steel’s CFR
Date: 06-03-2020Moody's Investors Service has affirmed the JSW Steel’s Corporate Family Ratings (CFR) to 'Ba2'. The rating agency has also affirmed Company's senior unsecured USD notes to 'Ba2'. The rating agency has changed the outlook on the ratings to Stable from Positive.
The change in outlook to Stable reflects the Company's weaker than expected operating performance, and the likely completion of acquisition of Bhushan Power and Steel is likely to increase leverage in the near 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.