Jindal Stainless Ltd (JSL) today said CARE has upgraded its rating to 'BBB-', reflecting the company's improved profitability, strengthening balance sheet and sustained operational progress.
"JSL, a leading stainless steel major, has received a rating upgrade from CARE (Ratings), to BBB-' from BB+," the company said in a statement.
Stating that the company was encouraged by the improvement of its rating, JSL MD Abhyuday Jindal said: "this development endorses that we are now more than financially and operationally stable, and poised to take our product mix and growth trajectory to the next level".
The CARE report further acknowledges the inherent strengths of the company, given its long track record and strong position in the domestic market, the company said.
JSL operates a stainless steel plant at Jajpur, Odisha with a capacity of 0.8 million tonnes per annum.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app