General Announcement::Intimation of Rating upgrade
August 24, 2021 at 05:34 am IST
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JSWSL: SECT: MUM: SE: 2020-21
August 23, 2021
1.
National Stock Exchange of India Ltd.
2.
BSE Limited
Exchange Plaza
Corporate Relationship Dept.
Plot No. C/1, G Block
Phiroze Jeejeebhoy Towers
Bandra - Kurla Complex
Dalal Street,
Bandra (E), Mumbai - 400 051
Mumbai - 400 001.
NSE Symbol: JSWSTEEL
Scrip Code No.500228
Kind Attn: Mr. Hari K, President (Listing)
Kind Attn: The General Manager (CRD)
Sub:
Intimation of Rating upgrade under Regulation 30(6) of the Securities Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, ("Listing Regulations 2015")
Dear Sir,
In compliance with Regulation 30(6) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("Listing Regulations 2015") we hereby inform you that, ICRA Limited Ltd vide their release dated August 23, 2021 has upgraded the Company's rating for Long Term Bank Facilities and Non-ConvertibleDebentures to "[ICRA] AA"; Stable Outlook, from "[ICRA] AA- "; Positive Outlook and has reaffirmed the ratings for the Short Term Bank facilities and Commercial Paper at "[ICRA] A1+".
The details are tabulated as under:
Credit
Rating Type of Credit Rating
Existing Rating
Revised Rating
Agency
Long
Term
Bank
[ICRA] AA-
[ICRA] AA
Facilities
and
Non-
ICRA Limited
Convertible Debentures
Outlook (Positive)
Outlook (Stable)
Short
Term
Bank
[ICRA] A1+
[ICRA] A1+
Facilities
and
(Reaffirmed)
Commercial Paper
A copy of the report covering the rationale for the rating is available on their website at the given below link:
Singapore Exchange Securities Trading Limited 11 North Buona Vista Drive, #06-07, The Metropolis Tower 2, Singapore 138589
Hotline: (65) 6236 8863
Fax: (65) 6535 0775
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Disclaimer
JSW Steel Limited published this content on 23 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 00:03:03 UTC.
JSW Steel Limited is one of India's leading manufacturers of steel products. Net sales break down by activity as follows:
- sale of steel products (98.3%): hot-rolled and cold rolled steels, bare and pre-painted steels, reinforcing bars, galvanized steels, wire, special steels, etc. for the automotive, machinery and construction sectors;
- other (1.7%).
At the end of March 2022, the group had 17 production sites in India (14), the United States (2) and Italy.
India accounts for 68.7% of sales.