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Moody’s upgraded JSW Steel to Baa3, recognizing improved credit profile and reduced debt
31-Jul-2026, 06:17
JSW Steel Limited, India’s largest steel producer, has achieved a Baa3 long-term issuer rating from Moody’s Ratings, placing the company at global investment grade, and marking a broader re-rating alongside upgrades from Fitch, CARE Ratings, and ICRA. The rating reflects sustained improvement in JSW Steel’s credit profile, including a reduction in net debt from Rs 76,563 crore as of March 31, 2025, to Rs 46,157 crore as of June 30, 2026.
JSW Steel Limited, India’s largest steel producer, has achieved a Baa3 long-term issuer rating from Moody’s Ratings, placing the company at global investment grade, and marking a broader re-rating alongside upgrades from Fitch, CARE Ratings, and ICRA. The rating reflects sustained improvement in JSW Steel’s credit profile, including a reduction in net debt from Rs 76,563 crore as of March 31, 2025, to Rs 46,157 crore as of June 30, 2026.