Icra cuts rating on JSPL loans

Rating agency Icra on Friday revised ratings debentures and for bank lines and debt instruments of Jindal Steel & Power Ltd and Jindal Power Ltd, following the Supreme Court's verdict cancelling coal blocks allotted to the entities. Rating for debentures and term loans has been revised from "AA" to "AA-". However, the rating for commercial paper and short term debt has been retained at "A1+".