More Stories

Informist, Wednesday, Jul. 8, 2026

 

--CARE ups JSW Steel's long term bk facilities of INR 213 bln to AA+ from AA 

--CARE ups JSW Steel's NCDs of INR 40 bln to AA+ from AA; outlook stable 

 

MUMBAI – CARE Ratings Ltd. has upgraded the rating on JSW Steel's long-term bank facilities worth INR 213.39 billion to "AA+" from "AA" with stable outlook. The agency also upgraded the rating on the company's long-term bank facilities of INR 141.77 billion to "AA+" with a stable outlook, according to an exchange filing.

 

Additionally, CARE Ratings upgraded the company's non-convertible debentures worth INR 40 billion to "AA+". The rating revision comes after the sale of JSW Steel subsidiary Bhushan Power and Steel Ltd.'s assets to the joint venture with Japan-based JFE Steel Corp. As part of the transfer, JSW Steel received INR 373.50 billion as cash proceeds, CARE Ratings said in a press release. The rating agency expects the cash generated from the transaction to be used for deleveraging. 

 

"CareEdge Ratings further expects sustenance of the existing leverage levels despite an announced large-scale capacity expansion plan cumulating to around INR 1.26 trillion," as per the release.

 

For the March quarter, JSW Steel had reported a consolidated net profit of INR 163.70 billion on revenues of INR 511.80 billion. Wednesday, its shares ended at INR 1,219.50 on the National Stock Exchange, down over 2% from Tuesday.  End      

 

Reported by Adhithya Aji

Edited by Rajeev Pai

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.