Announced Mon, 27 Jul · 20:00 IST
Moody's upgrades JSW Steel to investment grade Baa3, stable outlook
JSWSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹1248.90
prior close
₹1241.20
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.8+0.7+0.4+0.5——————————
Up moveDown movePending
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.