India Ratings upgrades SAIL long-term rating to IND AA+ with Stable outlook

Credit rating upgradedCredit & Debt View source PDF Explain this filing

SAIL · 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

+0.4%Reaction day

₹196.11

prior close

₹197.86

announcement price

After-mkt

timing

Nifty Midcap 150market-0.2%+0.6% vs market

Iron & Steel peers, median of 10sector+2.0%-1.6% vs sector

On the reaction day the stock moved 0.6 pts more than Nifty Midcap 150 and 1.6 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

-0.3

10m

-0.2

15m

-0.1

30m

-0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.4-0.2+0.6+2.0-1.6

Next day

-4.2-0.7-3.6+0.9-5.1

-5.1-0.6-4.5-0.1-5.0

-5.0-1.0-4.0+1.8-6.7

-6.3-1.4-4.9+0.7-7.0

-8.7-1.6-7.1-1.1-7.6

-11.5-3.7-7.8-3.4-8.1

15d

-6.1-4.9-1.1-3.0-3.0

-9.8-6.3-3.5-4.4-5.4

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UpDownMarket · Nifty Midcap 150Sector · Iron & Steel peers, median of 10Pending

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

AI summary

India Ratings upgraded SAIL long-term issuer rating to IND AA+/Stable from IND AA. Bank loan facilities (Rs 22,000 crore) long-term upgraded, short-term A1+ affirmed (then withdrawn). Commercial paper A1+ affirmed, public deposits upgraded to AA+/Stable. Upgrade reflects improved sales volumes, lower production costs, and better credit metrics. Net leverage fell to 2.97x in FY26 from 3.89x in FY25, with revenue up 8% to Rs 1,108 billion and EBITDA up 13% to Rs 120 billion.

Likely market impact

Positive for shareholders. Likely lower borrowing costs and stronger financial profile. Planned Rs 1,000 billion capex over FY27-FY31 remains a key monitorable.