From ICRAJSW Steel has received revision/ assignment of credit ratings for its various debt facilities from ICRA as under -
ICRA has reaffirmed the long-term rating to the Rs. 5,351.04 crore(reduced from Rs. 10,082.16 crore) non-convertible debenture (NCD) programme and the Rs. 22,583.05 crore (enhanced from Rs. 21,754.12 crore) term loans / Standby Letter of Credit facilities of JSW Steel (JSW Steel) at [ICRA]AA- (pronounced as ICRA double A minus)
ICRA has also assigned an [ICRA]AA- rating to the Rs. 5,000.00 crore proposed term loans and the Rs. 5,000.00 crore proposed NCD programme of JSW Steel. The outlook on the long-term rating, however, has been revised to 'Stable' from 'Negative'.
ICRA has reaffirmed the [ICRA]A1+ (pronounced ICRA A one plus) rating to the Rs. 3,500.00 crore commercial paper (CP) programme, the Rs. 1,400.00 crore (reduced from Rs. 1,488.00 crore) fund-based bank facilities and the Rs. 16,800.00 crore (enhanced from Rs. 15,619.50 crore) non-fund based bank facilities of JSW Steel.
ICRA has also reaffirmed the long-term rating at [ICRA]AA- and the short-term rating at [ICRA]A1+ for the Rs. 5,844.40 crore (enhanced from Rs. 4,370.66 crore) long term/short term, fund based/non-fund based bank facilities of JSW Steel and revised the outlook on long-term rating to 'Stable' from 'Negative'.
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