Story thread · 3 reports / 3 sources

Moody's upgrades JSW Steel to Baa3 rating

economictimes.indiatimes.com · 11dShare

MUMBAI: Moody’s Ratings has upgraded JSW Steel to Baa3 with a stable outlook, placing it at a global investment grade, the country’s largest steelmaker said. The rating agency also upgraded JSW Steel’s senior unsecured ratings and guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority to Baa3 from Ba1, withdrawing its earlier Ba1 corporate family rating.“This rating is a recognition of the strength and resilience of JSW Steel’s business - our scale as India’s largest steel producer, our cost-competitive operations across multiple locations, and the quality of assets we have built over the years,” said Jayant Acharya, joint managing director and chief executive at JSW Steel.“Global investment grade strengthens our access to international capital markets on more competitive terms. It also affirms the confidence that customers, partners and investors worldwide place in JSW Steel,” he said.The Baa3 rating by Moody’s follows other re-ratings secured by JSW Steel

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