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Jindal Stainless (Hisar) receives reaffirmation in credit ratings from CARE

Capital Market 

The long-term credit facilities of Jindal Stainless (Hisar) have been reaffirmed at 'CARE A-' rating with a stable outlook by CARE Ratings. The shortterm credit facilities of the Company have also been reaffirmed at 'CARE A2+' rating.

JSHL's rating was retained in light of the Company maintaining an accomplished track record in financial and operational domains. Additionally, JSHL's strength to serve diversified end-user industries, with an emphasis on value-added products, has proved to be favourable in the rating analysis of the Company. A healthy per-tonne operating profit, coupled with debt reduction and improved cashflow, weighed positively for the Company on the rating scale.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 17 2020. 13:16 IST