CARE upgrades JSW Steel long-term rating to AA plus Stable

Rating UpgradedCredit & Debt View source PDF Explain this filing

JSWSTEEL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.1%Reaction day

₹1238.00

prior close

₹1218.40

announcement price

In-mkt

timing

Nifty 100market-2.1%+1.0% vs market

Iron & Steel peers, median of 10sector-1.4%+0.3% vs sector

On the reaction day the stock moved 1.0 pts more than Nifty 100 and 0.3 pts more than its Iron & Steel peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.0

10m

-0.2

15m

-0.3

30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.1-2.1+1.0-1.4+0.3

Next day

-1.0-1.7+0.7+0.1-1.0

+0.6-0.6+1.2+1.0-0.4

-0.1-0.7+0.5+0.7-0.9

+0.8-1.3+2.0-0.0+0.8

-0.9-1.1+0.2+0.2-1.1

-0.4-0.3-0.1-1.0+0.6

15d

+3.1-0.4+3.5+2.7+0.3

+5.2+1.3+3.9+2.5+2.6

+4.8-2.4+7.2+4.6+0.2

-5.1-8.4+3.4-6.0+0.9

UpDownMarket · Nifty 100Sector · Iron & Steel peers, median of 10Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

CARE Ratings upgraded JSW Steel long-term rating from AA Stable to AA plus Stable across bank facilities, non-convertible debentures and issuer rating. Short-term rating A1+ was re-affirmed. The upgrade follows the about 37,350 crore rupees cash inflow from the slump-sale transfer of Bhushan Power and Steel steel business into a 50:50 JV with JFE Steel, used largely for deleveraging. Gearing improved to 1.16x, net debt to PBILDT to 2.60x in FY26 from 4.38x in FY25.

Likely market impact

Positive for shareholders; signals stronger credit profile, lower borrowing cost potential and supports ongoing 1.26 lakh crore capex plans.