Moody's revises outlook for Tata Steel, Sajjan Jindal-led JSW Steel

The stable outlook reflects Moody's expectation that Tata Steel's strong operating performance will translate into a sustained improvement in credit metrics

Noting improvement in companies’ credit profiles, Moody’s Investors Service has revised the outlook for both Tata Steel and Sajjan Jindal-led JSW Steel to stable and positive, respectively.

"The positive outlook reflects the improving trajectory of JSW's credit metrics principally due to its competitive and efficient production costs, solid domestic demand conditions and our expectation for a supportive ongoing price environment," Kaustubh Chaubal, vice president and senior credit officer was quoted as saying.

JSW Steel's corporate family rating (CFR) continues to reflect the company's large scale and strong position in its key operating markets, as well as its strong product offering