Fitch gives stable outlook for JSW Steel's proposed senior unsecured notes

Company has shown interest in three assets keeping minority stake, ring-fencing itself from their liabilities

Fitch Ratings has assigned a 'BB(EXP)' (stable outlook) expected rating to Sajjan Jindal-led JSW Steel's proposed US dollar senior unsecured notes, which the company will be using for repaying debt, capex or any other purpose in accordance with regulations. 

“The company could look to raise about $1 billion through bonds and not more,” industry source close to the development told Business Standard. “However, there is no clarity with regard to proportion of allotment for capex and debt reduction of the total amount to be raised,” said the source.

The final rating is subject to the receipt of final