Moody's upgrades JSW Steel to investment grade Baa3, stable outlook

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

-0.0%Reaction day

₹1248.90

prior close

₹1241.20

announcement price

After-mkt

timing

Nifty 100market-0.2%+0.1% vs market

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

On the reaction day the stock moved 0.1 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

+0.8

10m

+0.7

15m

+0.4

30m

+0.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.0-0.2+0.1-0.3+0.3

Next day

+2.2+0.9+1.3+2.1+0.0

+1.6+1.1+0.5+1.5+0.1

+1.7+1.6+0.1+2.6-0.9

+2.5+3.2-0.7+2.9-0.4

+4.1+2.5+1.6+4.0+0.0

+4.7+2.7+2.1+2.9+1.8

15d

+1.5+1.0+0.5+1.0+0.5

+6.2+1.0+5.2+3.1+3.1

+1.2-4.7+5.9+0.2+1.0

-0.6-5.8+5.1-9.7+9.1

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

Moody's upgraded JSW Steel to investment grade with Baa3 issuer rating and stable outlook, up from Ba1 positive. Upgrade follows sale of 50 percent stake in Bhushan Power and Steel for about INR373.5 billion that helped cut debt. JSW Steel is India's largest steel producer with 31.9 million tonnes annual capacity. Debt to EBITDA expected to improve to 2.0 to 2.5 times from 3.4 times.

Likely market impact

Strong positive. Lower borrowing costs, broader investor pool, rating now matches India's sovereign rating.