ICRA upgrades JSW Steel long-term rating to AA+ with stable outlook

Rating UpgradedDebt PrepaidCredit & 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

+0.1%Reaction day

₹1268.50

prior close

₹1276.40

announcement price

After-mkt

timing

Nifty 100market+0.5%-0.3% vs market

Iron & Steel peers, median of 10sector+0.3%-0.2% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty 100 and 0.2 pts less 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

+0.1

10m

-0.1

15m

-0.5

30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.1+0.5-0.3+0.3-0.2

Next day

+0.9+2.0-1.1+1.0-0.1

+2.5+1.4+1.1+1.5+1.0

+4.8+1.5+3.4+2.5+2.3

+3.1+1.5+1.6+2.3+0.8

+2.3+1.4+1.0+1.5+0.8

+0.7+1.0-0.3-0.6+1.2

15d

+2.0+0.1+1.9-1.2+3.2

+3.1-0.5+3.6-1.9+5.0

-1.2-6.4+5.3-2.1+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

ICRA upgraded JSW Steel long-term credit rating to AA+ with stable outlook from AA on positive watch. Short-term rating A1+ reaffirmed. Covers about Rs 80,027 crore of facilities. Upgrade follows BPSL asset slump sale netting about Rs 37,350 crore, reducing debt. Adjusted net leverage expected around 2 times in FY2027. FY2026 sales volumes 29.6 MT, up 12 percent YoY.

Likely market impact

Positive: signals stronger financial profile, lower borrowing costs, and improved creditworthiness for shareholders.