JSW Steel announced that Moody's Investor Service has vide their Press Release dated 05 March 2020 affirmed the Company's Ba2 corporate family rating (CFR) and the Ba2 rating on the Company's senior
unsecured USD notes. Moody's has changed the outlook on the ratings to Stable from Positive.
The change in outlook to Stable reflects the Company's weaker than expected operating performance, and the likely completion of acquisition of Bhushan Power and Steel is likely to increase leverage in the near term.
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