New Delhi: Jindal Steel has received an upgrade in its long-term credit rating from CARE Ratings, with the agency raising the company’s rating to CARE AA+ (Stable) from CARE AA (Stable). The revision reflects the company’s improving financial strength, disciplined capital management and consistent operating performance as it continues to expand capacity and strengthen its balance sheet.
The latest assessment also reaffirms CARE A1+ for Jindal Steel’s short-term bank facilities, indicating continued confidence in the company’s ability to meet its short-term financial obligations. In addition, the proposed Non-Convertible Debenture (NCD) issue has also been upgraded to CARE AA+ (Stable).
The positive rating action extends beyond the parent company. CARE Ratings has also upgraded the long-term bank facilities of Jindal Steel Odisha Limited, a wholly owned subsidiary, to CARE AA+ (Stable) while reaffirming its CARE A1+ short-term rating. The move reflects the subsidiary’s growing contribution to the group’s overall financial position.
The rating upgrade comes as Jindal Steel continues to execute its expansion strategy, including the commissioning and ramp-up of its 6 million tonnes per annum (MTPA) capacity expansion project. CARE Ratings has taken note of the company’s improving operating scale, stronger earnings profile and prudent financial management while evaluating its latest credit profile.
According to the company, the revised rating strengthens its access to capital markets and financing opportunities, supporting future investments in capacity expansion and business growth. The higher credit standing is also expected to improve financial flexibility by enabling access to funding on more competitive terms.
Jindal Steel said the upgrade reflects the progress made in enhancing operational efficiency, maintaining a balanced capital structure and delivering consistent business performance despite changing market conditions. The company views the revision as recognition of its long-term growth strategy and disciplined approach to financial management.
The latest rating action adds to Jindal Steel’s financial credentials at a time when the company continues to expand its manufacturing capabilities and invest in future growth. With a stronger credit profile and stable outlook, the company is positioned to support its ongoing expansion plans while maintaining financial resilience in a competitive steel industry.
Source: This article is based on an official press release issued by Jindal Steel
Jindal Steel
