JSW Steel receives Baa3 long-term issuer rating from Moody's

JSW Steel today said Moody's Ratings has assigned it Baa3 long-term issuer rating with a stable outlook, placing the Company at global investment grade.

Moody's also upgraded JSW Steel's senior unsecured ratings and the guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority to Baa3 from Ba1, and withdrew the Company's earlier Ba1 corporate family rating.

The Baa3 rating follows a broader re-rating of JSW Steel over the past month: Fitch upgraded the Company to 'BB+' from 'BB' with a Positive outlook (July 6), CARE Ratings upgraded it to CARE AA+ from CARE AA (July 8), and ICRA upgraded it to [ICRA]AA+ from [ICRA]AA (July 30).