JSW Steel rating upgraded to AA+ by CARE on strong deleveraging

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

₹1216.30

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

+0.0

15m

-0.0

30m

-0.1

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's long-term rating from AA to AA+ with stable outlook across bank facilities, NCDs, and issuer rating. Short-term rating reaffirmed at A1+. Upgrade driven by around Rs 37,350 crore cash inflow from BPSL steel business slump-sale to JFE JV, used largely for deleveraging. Net debt to PBILDT improved to 2.60x in FY26 from 4.38x in FY25, overall gearing to 1.16x from 1.51x.

Likely market impact

Positive for shareholders: higher rating may lower future borrowing costs and reflects stronger balance sheet after BPSL deal.