JSW Steel Limited has seen its long-term credit rating upgraded by ICRA Limited to [ICRA] AA+ with a stable outlook. This upgrade, effective July 30, 2026, signifies enhanced financial strength and creditworthiness for the company. The upgrade applies to various credit facilities, including long-term fund-based loans and non-convertible debentures, reaffirming the company’s robust financial position.
Credit Rating Enhancement
JSW Steel Limited has received a significant endorsement of its financial health, with ICRA Limited upgrading its long-term credit rating to [ICRA] AA+. This upgraded rating is accompanied by a stable outlook, indicating confidence in the company’s sustained financial performance and market position. The rating action was officially announced on July 30, 2026.
Details of Rating Action
The upgrade impacts several of JSW Steel’s credit facilities. The company’s Long-Term Fund Based Term Loans/ Standby Letter of Credit Facilities have been upgraded to [ICRA] AA+ with a stable outlook. Previously, these facilities were rated [ICRA] ‘AA’ with a rating watch indicating positive implications.
Furthermore, for its Long-Term/ Short-Term Fund Based / Non-Fund Based facilities, the long-term rating has been upgraded to [ICRA] ‘AA+’ Stable. The short-term rating for these facilities has been reaffirmed at [ICRA] A1+. This dual action highlights the company’s strong short-term liquidity and improved long-term credit profile.
The rating for Non-Convertible Debentures has also been upgraded to [ICRA] ‘AA+’ Stable, replacing the previous [ICRA] ‘AA’ rating. Short-Term Fund Based / Non-Fund Based Facilities, along with Commercial Paper, have had their ratings reaffirmed at [ICRA] A1+.
ISIN Details for Rated Instruments
The specific Non-Convertible Debentures that have seen their ratings upgraded are identified by the following ISINs:
- INE019A07415
- INE019A07423
- INE019A08058
- INE019A07464
- INE019A07456
These instruments, rated by ICRA Limited, reflect the company’s ongoing efforts to maintain a strong credit standing in the financial markets.
Source: BSE
