Ind-Ra upgrades JSW Cement's long-term issuer rating to 'IND A+'

The upgrade reflects the significant improvement in JSWCL's business profile, owing to strengthening of market position and operating performance, as well as the financial profile over the near term.

Investment fund Synergy Metals gets CCI nod for stake buy in JSW Cement

Aditi Divekar Mumbai
Ind-Ra continues to take a consolidated view of JSW Cement Limited (JSWCL) and its subsidiaries - Shiva Cement Limited (Shiva, 59.3% stake); JSW Cement FZE (100%), JSW Green Cement Pvt Ltd (100%) and Utkarsh Transport Private Limited (100%) because of the strong operational and strategic linkages between the entities.

Ind-Ra has referred to the consolidated profile of JSWCL throughout the rating action commentary.

Furthermore, Ind-Ra has also considered the operational synergies between JSWCL and the JSW group and the likelihood of availability of financial support from the group, if needed.  

First Published: Aug 27 2021 | 9:07 PM IST

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