JSW Steel Ltd.

Moody's Investors Service has upgraded the JSW Steel's Corporate Family Rating (CFR) to Ba1 from Ba2. At the same time, it has changed the ratings outlook on the company to 'stable' from 'positive'. The upgrade reflects the company’s continued strong operating performance and consistently strong credit metrics while maintaining good liquidity. Ba1 rating means obligations are judged to have speculative elements and are subject to substantial credit risk. Moody's has also upgraded to Ba1 from Ba2 JSW's senior unsecured notes rating.

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.