JSW Steel receives revision in outlook from Fitch

JSW Steel receives revision in outlook from Fitch

Feb 26, 2020 07:02 IST capital market

JSW Steel announced that Fitch has affirmed Long-Term Issuer Default (IDR) Rating to BB. The Outlook on the IDR has been revised to Negative from Stable. The agency has also affirmed JSWs senior unsecured rating and the rating on its senior unsecured notes at BB.

According to the rating agency, the revision of the Outlook reflects the risks in JSWSs ability to deleverage and generate positive free cash flow (FCF) because of the various challenges in the Indian market.

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